Colruyt Group acquires the shares of the minority shareholders in Newpharma. In doing so, the family of the same name acquires full control over the web pharmacy.
100% of the shares
At the end of 2017 the Colruyt family already took a majority stake in Newpharma. At that time a deal was made whereby Korys, the investment company of the entrepreneurial family, acquired 39% of the shares, while Colruyt Group acquired a 26% interest.
Colruyt Group has just increased that interest to 61% by acquiring the shares of the minority shareholders. Together with the interest of Korys, the Colruyt family now fully owns the web pharmacy. The acquisition price would be between 72 million and 82 million euros, but further financial details were not disclosed.
The acquisition of Newpharma fits into Colruyt’s strategy to invest more and more in health related goods and services. Retail plays an increasingly important role in the pursuit of a healthier life. Recently, the group already took a lot of initiatives in this area, such as the SmartWithFood app, the expansion of the parapharmaceutical range in the stores, and the acquisitions of fitness chain Jims and bicycle retailer Fiets! (now Bike Republic). “Ultimately, the aim is to develop an ecosystem that aims to move step by step towards a broad-based approach to health,” the group states in a press release.
Newpharma is based in Liège and besides Belgium, it is also active in the Netherlands, France, Germany, Austria and Switzerland. The webshop has a range of around 39,000 parapharmaceutical products and non-prescription medicines. Last year, the company achieved sales of more than 140 million euros.