IK Investment Partners has acquired a majority stake in medicine supplier Vemedia Pharma alongside its chief executive Yvan Vindevogel.
IK acquired the shares in an auction process run by ING and Michel Dyens & Co. The sellers comprised Damier, Indufin Capital Partners and Leeward Ventures.
Following the deal IK is planning to launch a voluntary and conditional cash offer for the remaining shares, which account for 21.6 per cent of the company. The intended offer will be based on a price per share of €2.80 – equalling the price initially paid by IK.
Headquartered in Kortrijk, Belgium, Vemedia markets and distributes over-the-counter medicines and pharmacy raw materials in selected European markets. Around 80 per cent of its sales come from the Netherlands and Belgium with the rest coming from Italy, Spain and Portugal.
Under Vindevogel's leadership the company has grown acquisitively over the past six years, having made ten purchases.
With IK's support the company intends to develop its position in the sleeping and calming medicine market, as well as in the vitamin market in the Netherlands.