Axellus AS has entered into an agreement to purchase Gevita AS, thereby strengthening its focus on the pharmacy sector in Norway and Sweden.
Gevita AS was established in 1998 and sells natural products, vitamins and minerals to the pharmacy channel under the Gevita brand. In 2011, Gevita had total sales of approximately NOK 29 million. The company has 5 employees.
“The pharmacy channel in Norway and Sweden is growing, and is increasingly perceived by consumers as an important arena for buying dietary supplements. Pharmacies’ focus on quality is in complete alignment with Axellus’s strategy, and our goal is to achieve further growth in the pharmacy sector. By acquiring Gevita AS, Axellus is increasing its efforts towards the pharmacy channel. The Gevita brand will continue to be offered exclusively to the pharmacies in Norway and Sweden,” says Axellus Group CEO Stig Ebert Nilssen.
Under the agreement, Axellus is purchasing 100% of the shares in Gevita AS from Euromedica Holding AS. Axellus will also acquire the rights to the sale of Gevita products in Sweden as well. The parties have agreed not to disclose the purchase price.Gevita will become part of Axellus Norway and Axellus Sweden.
Completion of the transaction is subject to the approval of the Norwegian Competition Authority and the General Meeting of Euromedica Holding AS.
Axellus Group is the Nordic region’s leading supplier and marketer of a broad range of dietary supplements and health products. The Nordic countries, the Baltics and Poland are the company’s home markets, but Axellus is also widely represented in many European countries. The company’s well known brands include Möller’s, Gerimax, Pikasol, Nutrilett and Maxim. Axellus’ products are primarily sold through grocery retailers, health food stores and pharmacies. In 2011, Axellus Group had total sales of NOK 1,262 million and 419 employees. Axellus is part of Orkla Brands Nordic.
For more information, please contact:
Håkon Mageli, Executive VP, Corporate Communications and Corporate Affairs, OrklaMob.: +47 928 45 828
Stig Ebert Nilssen, CEO, Axellus GroupMob.: +47 958 86 541
Tine Hammernes Leopold, CEO Axellus NorwayMob.: +47 920 11 432
Ole Anker-Rasch, Chairman of the Board, Euromedica Holding ASMob.: +47 920 52 772