Belgian-headquartered Omega Pharma has agreed to purchase a portfolio of brands concentrated in certain therapeutic areas including skincare (both medicated and cosmetic) and hair care.
Pfizer announced in January 2004 that it would begin exploring strategic options for products in the portfolio in order to sharpen its focus in Europe on core brands with strong regional and global growth potential.
Total sales of the branded products amounted to €80 million last year, and the 10 major brands account for 72 per cent of sales, according to Omega Pharma, which specializes in health care, over-the-counter and personal care products.
The Claire Fisher cosmetic skincare range is among the top ten products in Germany relating to brand recognition and market penetration in Germany.
In Italy, the Restivoil hair and skincare products account leads the pharmacy sales with nearly 17 per cent of market share and Angstrom sun care products hold a similar share of the Italian market.
Eau Précieuse is a brand that is more 100 years old, which is well known in France and Belgium as a facial cleanser for problem skin.
Of all the brands in the portfolio to be acquired, the geographical split of sales showed that the UK, Italy and Germany accounted for three quarters of the total.
For Omega Pharma, the brands it acquires will complement its existing range of products. The transaction will provide Omega Pharma with a significant presence in a number of new countries, including Italy, Ireland, Scandinavia and Switzerland.
In countries such as France, Germany and the United Kingdom, where Omega Pharma already has a significant presence, the transaction will broaden the company's position.