UK-based healthcare group Alltracel Pharmaceuticals is on track to buy Germany’s Synpart in a deal worth up to 6.3 million euros.
Explaining the attraction to Synpart, Alltracel said that the company, which has a primary focus on the private label market with over two thirds of its turnover stemming from oral care products, has "built a suite of patents and patent applications in the area of dental and oral care," and also brings a solid sourcing network in India. Furthermore, in the twelve months to December 31, 2006, Synpart booked sales of 13.2 million euros, and had net assets of 503,000 euros.
Alltracel, which is itself active in the oral and wound care markets as well as cardiovascular and dermal health, says it expects to complete the transaction by August 31, and that the move will: secure leadership of the European Union private label specialist oral care supply market; bring a highly complementary product range to its portfolio; provide an alternative established product sourcing arrangement; and be accretive to earnings immediately.
Commenting on the proposed acquisition, Alltracel chief executive Tony Richardson said that it will “mark a step change in our European presence in the specialist oral care market significantly strengthening our portfolio of products and securing another critical Asian supply network…We look forward to building on [Synpart’s] success both in Europe and Asia, two of the fastest growing regions driving the global oral care market towards the $30 billion value forecast by 2010.”