ALAPIS Α.Β.Ε.Ε.
ANNOUNCEMENT
ALAPIS SA announces that pursuant to its business plan, the company proceeded with the signing of a preliminary agreement for the acquisition of the remaining 51% participation at K.P.MARINOPOULOS S.A., using the funds raised from the recently completed share capital increase via rights issue.
K.P.MARINOPOULOS S.A. was founded in 1979 and has until today a steady growth course, aiming at providing full services and covering all needs of a modern pharmacy at quick response. It has developed a broad sales and distribution network of its pharmaceutical and parapharmaceutical products, consisting today over 2,000 points of sale.
In specific, K.P.MARINOPOULOS S.A. distributes the top quality ALEFA products (private label), all medicine available in the Greek Market, baby food and over 10,000 parapharmaceutical products.
The company's current management, which as contributed decisively in the growth course of K.P. MARINOPOLOS S.A. will continue its efforts and will remain active in the Company contributing to its dynamics and further expansion. There are a total of two hundred thirty seven employees at the company, fully trained competent enough to support and satisfy the requirements and expectations of its customers, on a daily and direct access basis.
During 2006, K.P.MARINOPOULOS S.A. consolidated turnover amounted to euros 266.9 mil. and EBITDA stood at euros 5.3 mil. For 2007, the turnover is expected to amount euros 315 mil. and EBITDA is expected at about euros 7 mil.
The acquisition price amounts to euros 29 million. The final agreement as well as the acquisition price will be finalized with the signing of the final contract after all provisions in the preliminary contract are being satisfied.
The Company will inform the investment community about the signing of the final contract with another announcement.
K.P.MARINOPOULOS S.A. was founded in 1979 and has until today a steady growth course, aiming at providing full services and covering all needs of a modern pharmacy at quick response. It has developed a broad sales and distribution network of its pharmaceutical and parapharmaceutical products, consisting today over 2,000 points of sale.
In specific, K.P.MARINOPOULOS S.A. distributes the top quality ALEFA products (private label), all medicine available in the Greek Market, baby food and over 10,000 parapharmaceutical products.
The company's current management, which as contributed decisively in the growth course of K.P. MARINOPOLOS S.A. will continue its efforts and will remain active in the Company contributing to its dynamics and further expansion. There are a total of two hundred thirty seven employees at the company, fully trained competent enough to support and satisfy the requirements and expectations of its customers, on a daily and direct access basis.
During 2006, K.P.MARINOPOULOS S.A. consolidated turnover amounted to euros 266.9 mil. and EBITDA stood at euros 5.3 mil. For 2007, the turnover is expected to amount euros 315 mil. and EBITDA is expected at about euros 7 mil.
The acquisition price amounts to euros 29 million. The final agreement as well as the acquisition price will be finalized with the signing of the final contract after all provisions in the preliminary contract are being satisfied.
The Company will inform the investment community about the signing of the final contract with another announcement.