Recordati acquires drugmaker Italchimici

Recordati (RECI: MI) says it has acquired 100% of the share capital of fellow Italian drugmaker Italchimici SpA from current owners Progressio SGR, manager of the fund Progressio Investimenti II, IDeA Capital Funds SGR, manager of the fund Fondo IDeA Efficienza Energetica e Sviluppo Sostenibile, and from managers of the company itself.

The value of the transaction is around 130 million euros ($145 million) and will be funded from existing liquidity. The signing and closing of the transaction took place at the same time.

Italchimici, with over 40 years of history and revenues in 2015 of 46 million euros, is a consolidated firm in the Italian pharmaceutical market with well-known products. The company offers therapeutic solutions mainly in the gastroenterological and respiratory areas which consist of both pharmaceutical products and food supplements and medical devices to improve the health and well-being of patients. The main brands in its extensive product portfolio are Reuflor, Peridon and Lacdigest in the gastroenterological offering and Aircort among the respiratory products.