JSC Olainfarm has acquired 24% shares in Belarussian pharmaceutical company NPK Biotest. It is planned that in the nearest future Olainfarm will acquire another 46% shares, thus increasing its holdings to 70%. For the whole 70% share in the company Olainfarm agreed to pay 2.6 million euros. The acquisition will allow JSC Olainfarm to place some of its production processes in Belarus.
“We plan to have NPK Biotest not only as our production platform, helping us and our daughter companies to have easier access to Belarus market, but the acquisition will also add Group’s product portfolio with numerous herbal teas and their mixtures,“ says Valerijs Maligins, Chairman of the Board of JSC Olainfarm.
NPK Biotest is one of the first private pharmaceutical companies in Belarus. Group of scientists of Belarussian Academy of Sciences established it in 1990 in Hrodna. The company now is producing natural herbal medicines and food supplements. Its product portfolio includes more than 100 herbal teas, mixtures and powders. NPK Biotest owns four pharmacies in Hrodna. Company’s sales in 2015 were 2.7 million euros.
Olainfarm Group includes Latvian green pharma company Silvanols, chain of pharmacies of Latvijas aptieka, producer of elastic medical products Tonus Elast and producer of eco-cosmetics Kiwi Cosmetics.
Consolidated profit of Olainfarm in 2015 was 15.3 million euros, which is an increase by 25% compared to 2014 and by 8% compared to 2012, when the previous profit record of 14.2 million was set. Major sales markets of the Group in 2015 were Russia, Latvia, Ukraine, Belarus and The Netherlands.
JSC Olainfarm is one of the biggest pharmaceutical companies in Latvia with more than 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company’s operations is to produce reliable and effective top quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 40 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.
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Member of the Management Board
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