Fagron € 30m acquisitions in US and Brazil to strengthen key franchises
Fagron starts the year with positive news flow as it announces two buy-and-build acquisitions for a combined € 30m enterprise value. New Jersey-based CareFirst is a 503A compounder focused on health & wellness that fits well alongside Fagron's existing Anazao business. Sao Paulo-based Injeplast is a vertically integrated plastic packaging producer that can further strengthen Fagron's Essentials portfolio and customer base in Brazil. We deem both deals in the sweet spot of Fagron's buy-and-build strategy, and reiterate our € 24 TP/Buy rating.Fagron supplies products, services to professionals and institutions in the healthcare sector in Europe, the U.S.A. and Brazil. Co.'s activities are subdivided into four divisions. Through Fagron, Co. offers products and concepts for pharmaceutical compounding. Through Arseus Dental, Co. supplies dental products and concepts to dentists and dental laboratories in Belgium, the Netherlands, France, Germany and Switzerland. Through Arseus Medical, Co. supplies medical and surgical products to specialists, elderly homes, homecare nurses and hospitals in Belgium and the Netherlands. Through Corilus, Co. supplies ICT total solutions for medical specialists in Belgium, the Netherlands and France.
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