€ 15,000,000

Our client is a pharmaceutical and cosmetics manufacturer and distributor based in Athens, Greece that is interested in selling either 80% or 100% of their business. Their asking price is € 15 million for 100%, but this price is negotiable and is based primarily on physical assets, not enterprise results.

The company comprises two legal entities based in a 30,000 sq. meter plot in the north-eastern suburbs of Athens, along a major highway and in close proximity to the Athens Ring Road, Airport and Lavrio Port. There is a building of 7,000 sq. meters, and an additional 20,000 sq. meters can be built on the plot. All operating and product licenses are in place. All debt is currently being serviced.

The company has been hit by the Greek financial crisis, particularly as regards sales to the national health system. This is reflected in the poor consolidated financial results seen below. 

​

2016 Financial Highlights (€ mln)

​

Sales              3.536

Gross Profit      2.097

EBITDA           1.403

Net Profit        -0.127

Long Term Bank Debt    2.508

Short Term Bank Debt*  0.094

Total Bank Debt           2.602

​

The current product line up includes own products and imported brands sold OTC and by prescription. The pharma product range includes pills, sprays, and lotions for:

• alimentary tract & metabolism

• antithrombotic agents

• cardiovascular drugs

• antimycotics

• antibacterials

• anti-inflammatory and antirheumatic products

• bone disease drungs

• drugs for muscular skeletal disorders

• antidepressants

• psychoanaleptics

The cosmetics product range that is and can be produced is wide, and includes the following in addition to pharma pills/tabs:

• Shampoo

• Foam Bath & Shower

• Liquid & Solid Soaps

• Body Creams

• Hair Lotions

• Hair Masks

• Hair Gels

• Shaving & Aftershave Products

• Hand & Nail Creams

• Face Creams

• Emulsions & Face Clarifying Lotions

• Mouthwash Products

• Toothpastes

• Essential Oils

In addition to own production, the company imports a range of cosmetics from European producers.