10th Jun 2005 07:01
United Drug PLC10 June 2005 UNITED DRUG ACQUIRES UK PACKAGING SOLUTIONS COMPANY United Drug plc, Ireland's leading healthcare services provider today (Friday,10th June 2005) announced that it had acquired the full share capital of TDPackaging Limited, a UK based leading provider of primary and secondarypackaging solutions* to the international pharmaceutical and healthcaremanufacturer industries. This acquisition complements and builds upon United Drug's already strongpresence in the UK, as a provider of supply chain and commercialisationsolutions to the healthcare industry; and combined with our other businesses,further broadens the range of outsourced services we offer. TD Packaging is based in Swindon, employing over 200 people. The company willcontinue to service its clients through its experienced management team andinfrastructure. The business has recently moved to a new specialised packagingfacility in Swindon that creates great capacity to service the growing packagingoutsourcing needs of the European healthcare industry. The consideration for the acquisition is Stg£7.4 million in cash, payable oncompletion, plus an additional consideration of up to Stg£4 million, payable onachievement of agreed profit targets over the next 3 years.Speaking this morning, United Drug Chief Executive, Liam FitzGerald said: "Combined with all of our other manufacturer outsourced businesses in the UK and Ireland, the acquisition of TD Packaging further strengthens and complements our total offering to clients and continues to demonstrate the Group's strategic commitment to meeting the service needs of healthcare manufacturers, and to providing relevant cost-effective service solutions for the healthcare industry". * TD Packaging client service offering also includes bottling and blister packaging. Ends. Friday, 10th June 2005 For reference: Liam FitzGerald Pauline McAlesterUnited Drug plc Murray ConsultantsTel: 00-353-1-4598877 Tel: 00-353-1-4980300 Note to Editors United Drugwas founded in 1948 and is a leading healthcare services provider topharmaceutical retailers and manufacturers in the UK and Ireland, operating infour key business divisions: Pharma Wholesale; Contract Sales Outsourcing;Contract Distribution Outsourcing, and Medical & Scientific. The Company employsover 2,000 people through its operations in Ireland and the UK. United Drug islisted on the Irish and UK Stock Exchanges and has a market capitalisation ofover €750 million. The Company has a long-term high growth earning track record,reporting in excess of 20% growth over the past five years. This is the second UK acquisition announced by United Drug this month. On 2ndJune, the Company acquired the full share capital of In2Focus Sales DevelopmentServices Limited, a leading provider of contract sales services in the UKmarket. United Drug's operations Strategic Positioning: Pharma Wholesale - No. 1 Wholesaler (Ireland and Northern Ireland) Contract SalesOutsourcing - Strong player (UK and Ireland) Contract DistributionOutsourcing - PharmaNo. 1 Distributor to Wholesalers and Hospitals (UK and Ireland) - ConsumerNo. 1 in Cosmetic and Photographic products (Ireland) Medical & Scientific - No. 1 Biotech Supply Company (Ireland) - Growing business in the UK. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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