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Alliance Boots increases stake in Hedef

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By Mark Davidson

Pharmaceutical giant Alliance Boots has secured a further ten per cent of Turkish pharmacy wholesaler Hedef Alliance, increasing its shareholding to 70 per cent.

Hedef Alliance is one of two large wholesalers in Turkey, and Boots’ majority share in the firm will provide it with an opportunity to take advantage of this growing pharmacy market, led by a rising population and greater healthcare provisions.

Alliance Boots became majority shareholders of Hedef last year, and intends to acquire more of the group over the next two years.

It also holds an 81.64 per cent share in German pharmaceutical wholesaler Anzag, having increased its stake last year, further strengthening its international reach.

As well as running a strong pharmaceutical department, Alliance Boots is benefiting from a buoyant health & beauty market in the UK.

Discussing plans and predictions for the group last month, following a strong Christmas period,, UK CEO Andy Hornby said recent acquisitions have helped enhance the company’s international reputation.

He said: “We are very pleased with our progress and are well positioned to deliver a strong financial performance in 2011 through a combination of organic growth and the two major acquisitions.

“We enter 2011 as a much broader international group with an even stronger platform for future growth.”

Published on Thursday 24 February by Editorial Assistant

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