Pfizer Inc. today announced that it has entered into a
definitive agreement to purchase Ferrosan’s consumer healthcare business, which
includes dietary supplements and lifestyle products, from Altor 2003 Fund GP
Based in Copenhagen,
Ferrosan is an innovative and long-established consumer healthcare company in
the Nordic region with a portfolio of leading brands. Since 1920, Ferrosan has
grown to serve a broader market including Russia,
the Ukraine, Poland, Turkey
and many countries throughout Central and Eastern Europe.
“Ferrosan is an excellent strategic fit that strengthens our
presence in dietary supplements with a new set of compelling brands and product
pipeline,” said Paul Sturman, president, Pfizer Consumer Healthcare. “The
transaction will mark an important step towards expanding Ferrosan’s brands
through Pfizer’s global footprint. As an immediate result of this acquisition,
we will gain greater distribution and scale for Pfizer’s well-known brands such
as Centrum® and Caltrate® in Ferrosan’s regions.”
Ferrosan’s portfolio of products include Multi-tabs®, a
popular multivitamin brand, Bifiform®, a leading probiotic, Fri Flyt/Active
Omega, an Omega 3 product, and IMEDEEN® premium oral skincare brands. These Ferrosan
brands are among the top-selling products in their respective categories.
Ola Erici, President of Ferrosan, said, “We are very pleased
that Ferrosan’s innovative portfolio of leading brands will be joining Pfizer.
We expect that, as part of the Pfizer portfolio, our products will build on
their industry-leading positions and become available in more countries around
the world. And, at the same time, Pfizer will be able to leverage its footprint
in key Ferrosan markets with new Pfizer products.”
The transaction, which is subject to customary closing
conditions, including regulatory approval in certain jurisdictions, is expected
to close during the second quarter 2011. Financial terms were not disclosed.
Pfizer’s financial advisors were Barclays Capital and
Guggenheim Securities, LLC. Skadden, Arps, Slate, Meagher & Flom LLP acted
counsel for Pfizer with Gorrissen Federspiel advising Pfizer on Danish law.