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Estonian M&A team of TGS Baltic led by partners Kadri Kallas and Sander Kärson advised Euroapteek on the acquisition of Ülikooli Apteek pharmacy chain in Estonia. The transaction is subject to merger clearance after which Euroapteek will integrate 13 Ülikooli Apteek branded pharmacies to its network of 73 pharmacies.
"The expansion of the Euroapteek’s network primarily brings added value to our customers as all the locations of Ülikooli Apteek fit very well with our pharmacy network without any overlap," said Inna Mets, Chairman of the Management Board of Euroapteek OÜ. "We would like to continue developing the Euroapteek’s network with the family of Ülikooli Apteek and thus provide our customers with the best and most convenient service."
The transaction is subject to the approval of the Estonian Competition Authority. After the approval the network of Euroapteek will consist of 73 pharmacies, 54 of which are owned by Euroapteek, and 19 are operating under a franchise agreement.
Euroapteek is a part of the Euroapotheca Group owned by Maxima's owners. Euroapotheca group currently has a network of over 450 pharmacies in Lithuania, Latvia, Estonia, Poland and Ukraine. http://www.euroapteek.ee/
On the same topic
Euroapotheca Group’s press release: Euroapotheca expands pharmacy business in Estonia to acquire Ülikooli Apteek from Finland‘s Helsinki University
Euroapteek’s press release: Euroapteek will acquire Ülikooli Apteek pharmacy chain (in Estonian)
Äripäev: Euroapteek will buy Ülikooli Apteek pharmacy chain (in Estonian)
Delfi Ärileht: Euroapteek will buy Ülikooli Apteek pharmacy chain (in Estonian)
ERR: Euroapteek will buy Ülikooli Apteek pharmacy chain (in Estonian)
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