IdeaSphere Acquires Pharmaton Nutrition BusinessIdeaSphere Acquires Pharmaton Nutrition Business
August 25, 2006
NEW YORK--IdeaSphere Inc. purchased the Pharmaton SA natural health care business from Ingelheim, Germany-based Boehringer Ingelheim. Financial terms of the transaction were not disclosed, though IdeaSphere will take over the Lugano, Switzerland-based Pharmaton business and brands in their entirety, and the companies plan to work together to toll manufacture some products.
"We are glad to seize the opportunity to further strengthen and expand our international health care business while adding premium brands to our portfolio of products," said Mark Fox, president and chief operating officer (COO) of IdeaSphere. "The acquisition of Pharmaton helps broaden our product portfolio toward new target audiences. It complements not only our geographical strength in North America with attractive market positions, but also provides access to other strategic markets for IdeaSphere in Europe, the Middle East, Latin America and Asia."
Eros Ceppi, managing director of Pharmaton, said the transaction provides Pharmaton with a strong partner in development of an enhanced product portfolio. "Our partnership with IdeaSphere will give us new momentum," Ceppi said. "There will be new upside opportunities for the site and its employees, and considerable synergistic potential."
The divesture will allow Boehringer Ingelheim to focus on its pharmaceutical business, while strengthening IdeaSphere's global position in the natural health and dietary supplement business. IdeaSphere plans to add new capacities to the Lugano location to strengthen its offerings in manufacturing, marketing, and research and development. During a transition period, Boehringer Ingelheim will continue to distribute Pharmaton products.
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