Alliance Boots announces that it has acquired a further 10% of Hedef Alliance Holding A.S. (“Hedef Alliance”), one of the largest pharmaceutical wholesalers in Turkey, increasing its shareholding to 70%. Alliance Boots announced last summer that it had become the majority shareholder in Hedef Alliance, having increased its shareholding by 10% at that time, and that it would acquire further shares over a two year period.
Alliance Boots is a leading international pharmacy-led health and beauty group offering a wide range of products and services to our customers working in close partnership with manufacturers and pharmacists. Our two core business activities are pharmacy-led health and beauty retailing and pharmaceutical wholesaling. Alliance Boots is privately-owned and employs over 115,000* people. Its wholesale and distribution network serves over 150,000* pharmacies, doctors, health centres and hospitals from over 360* pharmaceutical wholesale distribution centres in 16* countries. We operate more than 3,250* health and beauty retail stores in nine* countries, of which just under 3,150* have a pharmacy.
* Figures stated are as at 31 March 2010, are approximate and include associates and joint ventures.
Turkey, with a growing population of over 72 million, is one of the fifteen largest pharmaceutical markets in the world. The Turkish pharmaceutical market has favourable long term growth characteristics driven by the expansion of both the population and healthcare provision. State health insurance has been extended so that it now covers most of the population. Hedef Alliance is one of two large pharmaceutical wholesalers in Turkey, each of whom has around a third of the market.
In addition to Turkey, Hedef Alliance has a controlling 50% stake of United Company of Pharmacists S.A.E. (“UCP”), the leading pharmaceutical wholesaler in Egypt, and an associate interest in Hydrapharm SPA, the largest wholesaler in Algeria. Hedef Alliance has consolidated revenue of around £2.4 billion (of which £1.9 billion is in Turkey and £0.5 billion in Egypt), operates over 130 distribution centres and has more than 8,500 employees.
For further information, please contact:
Yves Romestan / Sanam Conway, Alliance Boots
Tel: +44 (0) 1932 871564
Kirsty Flockhart, Finsbury
Tel: +44 (0) 20 7251 3801