MALMO, Sweden, Feb. 15, 2002 (PRIMEZONE) -- Wilh. Sonesson continues its focus on health products by acquiring through its subsidiary MaxMedica Naturlakemedel AB the Norwegian operations of Vitamed A/S from United Care Scandinavia AB. Vitamed's sales amounted to about SEK 11 M in 2001. The contract includes exclusive sales rights for the skincare product Jabu'She in the Nordic countries. Associate Professor Harry Breitner, formerly head of the dermatological unit at the Karolinska Institute in Stockholm, led a study that showed positive effects and clear regenerative qualities for age-related skin changes.
The purchase price is SEK 5.0 M, which will be paid with SEK 1.5 M in cash and 230,870 Wilh. Sonesson B-Series shares. Following the transaction, the number of privately owned shares in Wilh. Sonesson will be reduced and amount to 369,130. The acquisition is expected to have a positive effect on key ratios for the current year. The ownership transfer will be effected today, February 15, 2002.
"The acquisition of operations in Norway is in line with our strategy to become established as one of the leaders in the Nordic market for health products. With operations in all Nordic countries, we can offer our suppliers increased sales volumes," says Greg Dingizian, President of Wilh. Sonesson.
Wilh. Sonesson offers health products that satisfy a growing consumer demand. Health products comprise pharmaceuticals, naturopathic preparations, dietary supplements, and related personal care products.
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