AsianScientist (Jun. 3, 2013) – EBOS Group Limited announced this week details of a NZ$1.1 billion acquisition of Zuellig Healthcare Holdings Australia Pty Ltd (Symbion), a 100 percent owned subsidiary of The Zuellig Group Incorporated (Zuellig).
Symbion, Australia’s leading pharmaceutical wholesaler and distributor by revenue, is involved in the distribution of over 14,000 prescription medicines and over the counter products to around 3,000 retail and hospital pharmacies.
In 2008, Symbion was acquired by The Zuellig Group Incorporated, and in 2011, Symbion expanded into veterinary wholesale through the purchase of Lyppard.
“This is a fantastic opportunity for EBOS. Symbion has a strong record of growth and profitability as does EBOS. It has a diversified earnings stream in pharmacy, hospital and animal care, and is a great fit with EBOS’ core business competencies in both countries. On the animal care side, Symbion’s veterinary business Lyppard will sit well alongside our recent acquisition of Masterpet,” said EBOS Managing Director Mark Waller.
The acquisition price of Symbion will be NZ$865 million, excluding the transfer to EBOS of existing Symbion debt. The transaction settlement is expected to take place on or about July 5, 2013.
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Source: EBOS.
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