Ireland │ Sweden
DCC plc, the sales, marketing, distribution and business support services group, has announced that DCC Healthcare has acquired Midsona Manufacturing AB, a subsidiary of Midsona AB.
Midsona Manufacturing AB provides product development, registration, manufacturing and packing services to a range of leading Swedish and international consumer healthcare and health & beauty brand owners. Its product capability includes standard tablets, effervescent tablets, nutritional liquids and sprays, supplied in a variety of packaging formats. The business operates from a licensed facility in Norrköping, south of Stockholm, and has 86 employees. The company will be renamed Vitamex Manufacturing AB and will become part of DCC Health & Beauty Solutions.
In tandem with the acquisition, DCC Health & Beauty Solutions has entered into a supply agreement with the vendor, Midsona AB, a Swedish listed company, whose core activity is the sale and marketing of well-known health and dietary supplements in the Nordic market.
Tommy Breen, Chief Executive of DCC plc, said: "The acquisition of Midsona Manufacturing is in line with DCC Healthcare's strategy to extend its service offering to brand owners in the health & beauty sector and to expand its European customer base."
M&A International Inc.’s member in Sweden, Avantus Corporate Finance, advised DCC plc throughout the acquisition process in collaboration with M&A International’s Irish member, IBI Corporate Finance. IBI Corporate Finance’s past working relationship with DCC plc together with Avantus Corporate Finance's local knowledge of the specific industry combined with execution capabilities were key in securing the mandate. The transaction was the result of a meeting held during M&A International Inc.'s M&A Mid-Market Forum in London in the spring of 2011, which DCC plc attended to discuss and identify cross-border acquisition opportunities in select countries such as Sweden. The seamless cooperation between Avantus Corporate Finance and IBI Corporate Finance throughout the process facilitated efficient execution and negotiations between the client and the vendor, proving once again the value and competitive advantage of M&A International Inc. in cross-border acquisitions.