German OTC Private Label Specialist EVP Acquires UK’s Principle Healthcare
Executive Summary
Leading German OTC private label manufacturer Euro Vital Pharma has bolstered its offering in the dietary supplements segment by snapping up UK-based Principle Healthcare
German OTC private label specialist Euro Vital Pharma has strengthened its offering in the dietary supplements space by acquiring UK-based Principle Healthcare Group for an undisclosed sum.
Backed by private-equity firm Capiton, Hamburg-headquartered EVP – which claims to be the leading provider in the OTC private label retail sector in Germany – supplies some of the largest drugstore and supermarket chains in the DACH region, including dm-drogerie markt, Edeka and Migros.
The company covers all areas of application for non-pharmacy OTC products, with particular strength in the cough and cold, digestion and circulatory segments, and also offers support to its customers to help develop their private label business.
Describing Principle Healthcare as “one of the leading European manufacturers and suppliers of dietary supplements in the private label consumer healthcare sector,” EVP said the acquisition represented a “further building block” in its European expansion strategy.
“The complementary customer segments and product portfolios, with Principle Healthcare’s focus on dietary supplements and EVP’s strength in pharmaceutical licenses and medical devices, offer the Group considerable diversification and synergy potential in Germany, Europe and worldwide,” commented EVP.
Headquartered in Skipton, Principle Healthcare serves more than 7,500 supermarkets, pharmacies and health food chains worldwide with a complete range of nutritional supplements in a variety of dosage forms such as effervescent tablets, capsules, gum pastilles, liquids and powders. It also markets a range of premium vitamin, mineral and health food supplements branded under the Principle name, and energy and sports nutrition products under its Body Volt brand.
The company operates its own production facility in Slovakia through its subsidiary Innopharma, and expects to generate sales of approximately €25m ($30m) in the current financial year.
Principle Healthcare’s current management team remained with the business, EVP noted, to continue the firm's growth path as part of a larger, pan-European business player.