Oriola Corporation Press Release 14 August 2017 at 09.00
Oriola to sell its Baltic businesses to the companies' existing management
Oriola has signed an agreement to sell its Baltic businesses to the companies' existing management (SIA Oribalt Group). Oriola's Baltic businesses comprise of the following subsidiaries: AS Oriola, Oriola Estonia Oü, SIA Oriola Riga, SIA Panpharmacy, and UAB Oriola Vilnius. The net sales of the Baltic businesses in 2016 were EUR 54 million, the adjusted EBIT EUR 1.2 million and the number of personnel was 160. The goal is to complete the transaction by the end of the third quarter in 2017.
"We want to focus on developing our business in Finland and Sweden where we see great potential and have initiated extensive development projects. In accordance with our strategy, we have decided to sell the Baltic businesses to the companies' existing management. Oriola unites operators in the healthcare sector and consumers in a unique way in the Nordic countries. We offer excellent service in a safe and customer friendly manner," says Kimmo Virtanen, Oriola' s Executive Vice President.
"We are very happy with this acquisition. Our acquiring group has several years of experience in leading the Baltic businesses, and we are excited to continue developing them further as owners. The high quality of services and long-term business development are our top priorities also in the future", says Pekka Ruokanen, SIA Oribalt Group's Director.
Further information:
Leena Salomaa
Communications Manager, Oriola Corporation
tel. +358 50 367 3304
Email: leena.salomaa@oriola.com
Publisher:
Oriola Corporation
Group Communications
Orionintie 5
02200 Espoo, Finland
www.oriola.com
Oriola
Oriola is a Finnish listed retail and wholesale company that distributes pharmaceuticals and health and wellbeing products. Oriola has a strong position in the pharmaceuticals market in Sweden and Finland. We promote people's wellbeing by ensuring safe and efficient distribution of pharmaceuticals and healthcare consumer products and services to our customers. Oriola's net sales are €1.6 billion, the company has some 2,800 employees and 325 pharmacies in Sweden. The company is headquartered in Espoo. www.oriola.com