Natura chemist stores and Dbam o Zdrowie pharmacies together in the CEPD Group
CEPD N.V., a Pelion Healthcare Group company, has acquired Polbita Sp. z o.o., the owner of the Natura chemist chain, from Alior Bank S.A. and Erste Group Bank AG. The transaction is conditional on clearance from the President of the Office of Competition and Consumer Protection (UOKiK).
The Natura chain, which comprises 258 outlets, including 240 proprietary stores and 18 franchises, is one of the largest retail networks on the Polish cosmetics market. Polbita Sp. z o.o. employs nearly 1,500 people, and in 2013 posted over PLN 420m in consolidated revenue. At present, the company generates positive EBITDA. In a survey conducted by PMR, in which consumers were asked to spontaneously name their cosmetics store of choice, the Natura chain ranked third.[1]
The transaction is a part of a strategy designed to diversify CEPD N.V.’s operations and consolidate its relations with customers from the Health and Beauty segment. Its purpose is to solidify the CEPD Group’s position in the Polish market and to drive further revenue growth.
“The decision to acquire the chemist chain was based on an analysis of the Polish cosmetics market and the fact that the market has continued to grow rapidly at an average annual rate of close to 5% in the last seven years” said Ron Drori, CEO of CEPD N.V. Mr Drori emphasised that the current situation on the Polish pharmaceutical market forces companies to diversify their operations to improve efficiency and meet the changing customer needs.
According to the research agency PMR, the Polish cosmetics market was worth PLN 20bn in 2013, and is forecast to reach PLN 23bn by the end of 2016.[2]
In its strategy, CEPD N.V. has committed to developing the Natura brand. “We have extensive experience in managing large retail chains in Poland and abroad, and we believe we can use it for the benefit of Natura's future growth,” said Mr Drori. “Our first step will be to expand the range of products and services offered to customers and to strengthen our relationships with suppliers. We will soon finish work on our growth strategy for the coming years. We would also like to take advantage of synergies offered by other areas of CEPD’s business, including those related to the product portfolio, on-line operations and real properties owned,” Mr Drori added.
The key financial elements of the transaction are CEPD N.V.'s commitment to provide additional capital to Polbita Sp. z o.o. of PLN 10m and the commitment by Alior Bank S.A. and Erste Group Bank AG to provide long-term debt financing up to the amount of PLN 150m, to be applied towards business development and the refinancing of Polbita Sp. z o.o.'s existing debt, which will be secured by, inter alia, a guarantee provided by CEPD N.V. and Pelion S.A. for a total amount of PLN 62.5m.
CEPD N.V. (Corporation of European Pharmaceutical Distributors N.V.) is Europe's leading retail distributor of pharmaceuticals, managing a network of some 1,300 pharmacies in Poland, Lithuania and the UK through its local subsidiaries.
In Poland, CEPD N.V., through DOZ S.A., manages the Dbam o Zdrowie chain of over 900 pharmacies, including 597 proprietary pharmacies and 316 franchises.
In Lithuania, the company operates through UAB NFG, a leader on the local pharmaceutical market. UAB NFG owns 314 pharmacies operating under Gintarine Vaistine and Norfos Vaistine brands, as well as nine Gintarine Vaistine franchise pharmacies, and has established relationships with 155 BVG partner pharmacies. Through Limedika, UAB NFG is present in the wholesale pharmaceutical distribution market, working with some 1,500 pharmacies, hospitals, opticians and stores in Lithuania. Furthermore, UAB NFG runs the largest Lithuanian on-line pharmacy − www.vaistine.lt.
CEPD N.V. also operates a pharmacy in London, which supplies medicinal products and provides pharmaceutical care to members of the numerous Polish community and local residents.
Through its local subsidiaries, CEPD N.V. employs over 3,500 staff.
For further information, please contact:
Marcin Piskorski
Press Officer for CEPD N.V.
Tel.: (+48 22) 329 64 16
Mobile: (+48) 607 480 168
E-mail: marcin.piskorski@cepd.nl
The transaction is a part of a strategy designed to diversify CEPD N.V.’s operations and consolidate its relations with customers from the Health and Beauty segment. Its purpose is to solidify the CEPD Group’s position in the Polish market and to drive further revenue growth.
“The decision to acquire the chemist chain was based on an analysis of the Polish cosmetics market and the fact that the market has continued to grow rapidly at an average annual rate of close to 5% in the last seven years” said Ron Drori, CEO of CEPD N.V. Mr Drori emphasised that the current situation on the Polish pharmaceutical market forces companies to diversify their operations to improve efficiency and meet the changing customer needs.
According to the research agency PMR, the Polish cosmetics market was worth PLN 20bn in 2013, and is forecast to reach PLN 23bn by the end of 2016.[2]
In its strategy, CEPD N.V. has committed to developing the Natura brand. “We have extensive experience in managing large retail chains in Poland and abroad, and we believe we can use it for the benefit of Natura's future growth,” said Mr Drori. “Our first step will be to expand the range of products and services offered to customers and to strengthen our relationships with suppliers. We will soon finish work on our growth strategy for the coming years. We would also like to take advantage of synergies offered by other areas of CEPD’s business, including those related to the product portfolio, on-line operations and real properties owned,” Mr Drori added.
The key financial elements of the transaction are CEPD N.V.'s commitment to provide additional capital to Polbita Sp. z o.o. of PLN 10m and the commitment by Alior Bank S.A. and Erste Group Bank AG to provide long-term debt financing up to the amount of PLN 150m, to be applied towards business development and the refinancing of Polbita Sp. z o.o.'s existing debt, which will be secured by, inter alia, a guarantee provided by CEPD N.V. and Pelion S.A. for a total amount of PLN 62.5m.
CEPD N.V. (Corporation of European Pharmaceutical Distributors N.V.) is Europe's leading retail distributor of pharmaceuticals, managing a network of some 1,300 pharmacies in Poland, Lithuania and the UK through its local subsidiaries.
In Poland, CEPD N.V., through DOZ S.A., manages the Dbam o Zdrowie chain of over 900 pharmacies, including 597 proprietary pharmacies and 316 franchises.
In Lithuania, the company operates through UAB NFG, a leader on the local pharmaceutical market. UAB NFG owns 314 pharmacies operating under Gintarine Vaistine and Norfos Vaistine brands, as well as nine Gintarine Vaistine franchise pharmacies, and has established relationships with 155 BVG partner pharmacies. Through Limedika, UAB NFG is present in the wholesale pharmaceutical distribution market, working with some 1,500 pharmacies, hospitals, opticians and stores in Lithuania. Furthermore, UAB NFG runs the largest Lithuanian on-line pharmacy − www.vaistine.lt.
CEPD N.V. also operates a pharmacy in London, which supplies medicinal products and provides pharmaceutical care to members of the numerous Polish community and local residents.
Through its local subsidiaries, CEPD N.V. employs over 3,500 staff.
For further information, please contact:
Marcin Piskorski
Press Officer for CEPD N.V.
Tel.: (+48 22) 329 64 16
Mobile: (+48) 607 480 168
E-mail: marcin.piskorski@cepd.nl
[1] PMR report: 'Polish cosmetics distribution market in 2014. Market analysis and growth prospects for 2014−2019” .
[2] Ibid.
