Procter & Gamble Pharmaceuticals buys Grupo Vita's operations in Spain

Published: 2-Mar-2004

The Procter & Gamble Company (P&G) has signed an agreement to acquire the commercial business of Grupo Vita in Spain.


The Procter & Gamble Company (P&G) has signed an agreement to acquire the commercial business of Grupo Vita in Spain.

Grupo Vita has a strong presence in the Spanish market with a commercial network that offers national coverage; thus the deal offers P&G Pharmaceuticals a major European growth opportunity. Pending regulatory approval, the acquisition is expected to be completed in the next six months.

'Grupo Vita has an excellent product portfolio and strong commercial capabilities in Spain, where P&G Pharmaceuticals currently has no presence - it's a natural fit,' said Hans van Zoonen, European vice president, pharmaceuticals and personal health care for P&G. 'This move enables us to compete in all of the top five European markets and fits P&G's strategy of targeted acquisitions in the fast-growing healthcare business.'

Based near Barcelona, Grupo Vita is one of the five largest Spanish pharmaceutical companies, focusing on treatments in cardiovascular, gastrointestinal, anti-infective, allergy and osteoporosis categories, realising a consolidated turnover of €111.5m in 2003 and employing some 600 people.

  

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