Pfizer is hitting the acquisition trail again and is boosting its consumer healthcare business with the purchase of Denmark-headquartered Ferrosan.
Ferrosan, which specialises in dietary supplements and lifestyle products, is being sold by private equity fund Altor and the financial details of the deal have not been disclosed. Based in Copenhagen, Ferrosan was founded in 1920 and as well as being a major player in the Nordic region, it now operates in Russia, the Ukraine, Poland, Turkey and many countries throughout central and eastern Europe.
Since Altor started investing in 2005, Ferrosan's earnings before interest, taxes, depreciation, and amortisation have increased from 147 million Danish kroner to 302 million kroner in 2010, an average annual increase of 15%. The company's portfolio includes Multi-tabs, a popular multivitamin brand, Bifiform, a probiotic and Fri Flyt/Active Omega, an omega 3 product, as well as Imedeen premium oral skincare brands.
Paul Sturman, head of Pfizer Consumer Healthcare, said Ferrosan "is an excellent strategic fit that strengthens our presence in dietary supplements with a new set of compelling brands and product pipeline”. He added that "as an immediate result of this acquisition, we will gain greater distribution and scale for Pfizer’s well-known brands", such as the multivitamin Centrum and the calcium and vitamin D tablets Caltrate.