1 Janvier 2007
Canec International Ltd. is pleased to announce the acquisition by its client Naturex of Italian company Hammer Pharma, which is based in Milan and has been specialized in the R&D and production of plant extracts for the pharmaceutical and nutraceutical industries for over fifty years.
Hammer Pharma employs some fifty employees and generated revenues of € 7.8 million in 2006 with an EBITDA of almost € 0.9 million. The transaction value is € 10 million, which will be paid € 6 million in cash and € 4 million by assuming the company’s debt.
Hammer Pharma is authorized by the Italian Ministry of Health to produce pharmaceutical ingredients. The company has also compiled E.D.M.F. (European Drug Master File) files for the main plant extracts that it produces and markets. These files authorize the integration of the extracts in finished pharmaceutical products.
In addition, the acquisition of Hammer Pharma will mean an additional, high-quality industrial facility for Naturex. Indeed, the company’s 6 acre site has the capacity to extract over 3,500 tons of raw materials each year.
According to Jacques Dikansky, CEO of Naturex , “As Hammer Pharma is ideally located at the heart of one of Europe’s key industrial zones, the acquisition affords Naturex another strategic location and will reinforce our Group’s positioning on the German and Italian markets which rank amongst the highest in Europe, and in which Hammer Pharma is an important player. Moreover, with the acquisition of Hammer Pharma, the pharmaceuticals sector will constitute a new area of development for Naturex”.
hLastly, for Enzo Beacco, Chairman of Hammer Pharma, “Hammer Pharma’s integration within Naturex will enable us to better capitalize on our industrial and scientific strengths through the Group’s sales network”.
As exclusive M&A advisors to Naturex, Canec International Ltd. initiated the transaction and managed and facilitated the entire buy-side process.
Naturex manufactures and sells 100% natural ingredients for the food, flavor, nutraceutical and cosmetics industries. The Group is headquartered in Avignon, France, but is an international company with over 90% of its sales coming from 30 countries outside France, of which 70% is generated on the US market. It has industrial facilities in France, Morocco and the United States and a representative office in Singapore.
Canec International Ltd. was established in 1989 to meet the needs of a growing number of European and North American companies wanting to expand overseas. Today Canec provides transatlantic buy and sell-side services to companies wanting to invest in or divest targets with enterprise values between $10 Million and $150 Million. Additionally Canec provides services to Private Equity Groups in North America and Europe seeking add-on or exit ideas with enterprise values between $30 Million and $300 Million.