CPHI NEWS: Aenova and Haupt Pharma agree merger
The move adds new expertise and provides a new company with a full range of products and services
The rapidly growing Aenova Group, from Germany, is to merge with contract development and manufacturing company Haupt Pharma, also a German business, to expand its portfolio. The agreement has been signed, but the purchase price remains confidential. The transaction will go ahead subject to the approval of the relevant competition authorities, but is expected to become legally binding at the end of the year.
Almost 12 months after the successful takeover of the Temmler Group, the Aenova Group expects with this move to increase its annual turnover to more than €750m. Both companies have production sites throughout Europe with a global focus. The merger will add areas such as sterile manufacturing and the production of special active ingredients (including hormones, antibiotics and cytostatics) to Aenova’s existing range of solid, semi-solid and liquid dosage forms. The company’s service portfolio will in future include all product groups and the main dosage forms for medicines and dietary supplements.
'The strategic activities of both companies complement each other very well and this move gives us further areas of expertise strongly focusing on forward-looking sectors in the pharmaceutical market, which are a perfect fit with our existing portfolio,' said Heiner Hoppmann, CEO of the Aenova Group.
Hoppmann told Manufacturing Chemist that there is very little overlap between the two companies and he believes their similar corporate cultures will mean smooth integration that should be completed before the end of 2014. The company is planning for an IPO in a couple of years' time.
The Aenova Group’s existing production network will increase from eight to 21 sites. In addition to new production facilities in Germany (Berlin, Brackenheim, Münster, Gronau, Regensburg, Wolfratshausen) and in Europe, Aenova will also acquire its first site in Asia (Japan). The number of employees will increase from 2,500 to more than 4,000.
The strategic activities of both companies complement each other very well
The merger of the two companies also offers the ideal opportunity for Haupt Pharma to consolidate and continue the growth that it has experienced over recent years. Otto Prange, chairman of the supervisory board of Haupt Pharma, will continue to accompany the enterprise in the future as co-shareholder of the Aenova Group. He said: 'The merger will increase our competitiveness in a challenging market and, as a result, make us significantly more attractive to our customers.'
With an annual turnover of around €500m, the Aenova Group's portfolio consists of solid, semi-solid and liquid dosage forms. The company’s headquarters are located in Pähl near Munich. It has 13 production sites in seven countries (Germany, Switzerland, France, Ireland, Italy, Romania and the USA). It is currently investing €10m on upgrading its Kirchberg (Swiss) site for softgel capsules, spending €3m on increasing capacity at its Romanian site and adding new technologies to its Miami, US site.
With nine production sites worldwide, Haupt Pharma covers large parts of the value chain from development, materials procurement, commercial production and packaging to logistics and distribution. Its products include pharmaceuticals, veterinary medicines, dietary supplements and cosmetics. In 2012, the group achieved a turnover of €282m.