Dublin-based support services company, DCC plc, has acquired 100% of Kent Pharmaceuticals Ltd., the UK's largest independent generic pharmaceuticals manufacturer, for US$93 million.
DCC is a sales, marketing, distribution and business support services company. It operates in five segments: DCC Energy, DCC SerCom, DCC Healthcare, DCC Environmental, and DCC Food & Beverage.
DCC plans to combine Kent Pharmaceuticals with its healthcare division, DCC Healthcare, to create a pharma business with aggregate revenues approaching US$247 million and to become a leader in the British and Irish generic pharmaceutical market. Mike Overy, Kent Pharmaceutical’s managing director, said: “The shareholders believe this transaction provides a fantastic opportunity to continue the growth and development of Kent Pharmaceuticals with a partner that is committed to expanding into the generic pharmaceutical market.”
Oaklins Cavendish, based in the UK, advised Kent Pharmaceuticals in this transaction. There had been a significant amount of consolidation in the sector in recent months and this deal creates a substantial UK generic pharmaceutical business with excellent international expansion opportunities.
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