2023-11-14 10:52:31
For the first time in 185 years, Uriachthe Catalan family pharmaceutical company, has decided to enter the British ICG fund with around 30% of the capita, through a capital increase. At the same time, the company has achieved one of its objectives: the acquisition of the French Inelda, which represents the largest purchase in its history. The company already has some representative of the sixth generation, who will continue to maintain majority control of the capital.
The entry of a partner, whose monetary contribution has not been made known, as has the amount of the acquisition in France, as another of the large Catalan pharmaceutical companies already did, beenwith the entry of 26% of the capital of Esteve Healthcare -not brands like Isdin- by the German private investment firm Lubea, will reinforce Uriach’s strategy to consolidate itself as a leader in the ‘natural healthcare’ business. The president of the council of owners, Enrique Uriach; the president of the board of directors, Lluís Cantarell; and the CEO, Oriol Segarra; have presented these new milestones for the company, which represent a great leap in its objectives.
Uriach already anticipated last June that his objective was landing in the French market through the largest acquisition in its history. Ineldea, which has about 20 years of history, has a turnover of about 100 million a year and is specialized in natural self-care health products, the business niche into which the Catalan firm has focused. Ineldea has a presence in France and Belgium.
500 million
The company had been planning an operation of this type for more than three years. With the new step, the company, which expected to reach 450 million in sales in 2025, anticipates these objectives and does not rule out reaching 500 million.
Segarra has explained that with the entry of the fund they will be able to accelerate growth and strengthen themselves in the countries where they are already present, as was done in Italy, where after a first acquisition other subsequent acquisitions were made. “We have become leaders in Europe,” he declared.
Enrique Uriach has assured that these movements consolidate the transformation of the company “from a small local family business to a multinational” and represents “a definitive leap” in its strategy, after divesting itself of the conventional pharmaceuticals business to focus on self-care. In turn, as a representative of the property, he has assured that the British fund “is the ideal financial partner profile for a family business.”
Cantarell, for his part, has stated that the incorporation of ICG and the entry of a representative of his on the board of directors is “a new step in the consolidation and professionalization of Uriach.”
Landing in France has been a goal for a long time. “We continue working to grow in Europe, we have a target market which is France, which is the last of the big ones we have left to complete our European platform,” Segarra said last June.
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The objective of the company, which in 2021 was separated from the medicine division and its factories in the Barcelona towns of Sant Fost de Campsentelles and Palau-solità and Plegamans to focus exclusively on the natural segment, is to strengthen itself in Europe. The same year he divested himself of the conventional drugs business, he acquired the German firm Sidroga.
Uriach, controlled by the fifth generation familyended 2022, the first year of its new stage with revenues of 272 million euros only from the sale of products from what is known as Natural Consume Healthcare (NCHC), pharmacy products of natural origin and sold without a prescription.
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