August 6, 2008
Alliance Boots to Acquire Stake in Athos Farma
Alliance Boots, a pharmacy-led health and beauty group, has signed an agreement to enter the Brazilian pharmaceutical wholesale market through the acquisition of an initial 25% equity shareholding in Athos Farma.
The completion of the transaction, which is subject to various conditions, is expected to take place later in 2008. It is reported that Athos Farma has a network of 17 pharmaceutical wholesale warehouses that currently serve approximately 26,000 pharmacies across all 26 Brazilian states and the federal district.
Stefano Pessina, executive chairman of Alliance Boots, said: "We are pleased to announce this agreement which is in line with our strategy of gaining a presence in new geographical territories and emerging markets with strong growth potential."