Uriach concludes its search for partners. The Catalan pharmaceutical laboratory has reached an agreement to allow ICG to become a shareholder, according to Expansión this morning. According to the aforementioned media, the British fund will take a minority stake in the company, but it will be enough for Uriach to obtain resources to continue growing through acquisitions in Europe.
In fact, in the last eight years, Uriach has managed to have a direct presence in seven European countries: Spain; Italy (buying Laborest in 2015, and in 2019 A.R.Fitofarma and Progine); Portugal (acquisition of Theralab in 2018); Germany, Austria, and Switzerland (through the purchase of Sidroga in 2021); and Romania, after the acquisition of Medimow in 2022. It also has a joint venture agreement for the marketing of its brands (Aquilea, Fisiocrem, and Laborest) in Greece.
In June this year, the fifth generation of the founding family, which owns the natural and over-the-counter products business, was already considering divesting between 20% and 30% of its capital. As part of this operation, Oriol Segarra, CEO of Uriach, said the move was an attempt to develop its business in the French market.
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ICG will take a minority stake, but it will be enough for Uriach to obtain resources to continue to grow in Europe
In 2022, the laboratory closed the financial year with a turnover of more than €272 million, an increase of 15.7% compared to 2021. In Spain, the company reported revenues of €72 million in 2022. Most of Uriach’s production is carried out in two factories in Germany, through agreements with third parties.
Regarding manufacturing, Uriach’s CEO noted that in 2022 they missed out on revenue by between €4 million and €5 million due to supply failures that had to do with shortages of raw materials and basic materials. Uriach has been progressively shifting its innovation activity to the creation of new health products, physiotherapeutic or food supplements, to offer the best alternatives or natural complements to medicines for wellness care.
In fact, the transformation process towards the natural and non-prescription segment culminated at the end of 2021, when Uriach decided to sell its traditional pharmaceutical business, industrial activities, generics, and contract manufacturing. It was in the same year that the pharma created the owners’ council, the highest governing body that brings together the company’s shareholders.
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First published in PlantaDoce. A third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
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