Imperial acquires Kenyan pharmaceutical distributor Surgipharm
Imperial Logistics, a wholly owned division of Imperial Holdings, has entered into an agreement to acquire a 70% interest in Surgipharm, a leading pharmaceutical distributor in Kenya, for a cash consideration of 35 million USD.
Surgipharm, which is headquartered in Nairobi, is a distributor of pharmaceutical, medical, surgical and allied supplies in Kenya, with an annual turnover of approximately 70 million USD. The company was established in 1985 and has grown to become one of the leading pharmaceutical distribution companies in Kenya, with offices strategically located in Nairobi and Mombasa.
With a workforce of over 330 employees, warehousing space in excess of 4,700 square meters and an own transport fleet, the business caters for the needs of all pharmaceutical distribution channels in the country.Dr. Vijai Maini will continue as the Managing Director, and Mr. Vipin Shah and Rakesh Vinayak will continue as Directors in their current roles post the transaction.
This transaction is in line with Imperial’s African growth strategy to be a significant route-to-market partner of multi-national companies in the consumer goods and pharmaceutical sectors in Southern, East and West Africa. Surgipharm also complements Imperial’s prior acquisitions in the pharmaceutical sector being Imperial Health Sciences, Eco Health (Nigerian pharmaceutical distributor) and Imres (Netherlands-based pharmaceutical wholesaler).