Peter Black sells vitamins unit
mineral unit to Belgian company Omega Pharma for an undisclosed
sum, thought to be worth tens of millions of pounds.
British healthcare business Peter Black has sold its vitamin and mineral unit to Belgian company Omega Pharma, reports English newspaper, the Yorkshire Post.
The company, based in Yorkshire, England, sold the vitamins business for an undisclosed sum, thought to be worth tens of millions of pounds, according to the report.
Peter Black, which went private two years ago, employed less than 20 people in its vitamin and mineral business, most of whom are expected to be taken on by Omega after the deal. A spokesman for Peter Black said that the vitamin and mineral brands, which include Red Kooga, Natracalm, Natrasleep, Healthcrafts and Calcia, had been a relatively small part of the group's healthcare business.
"The brands were always a slightly strange fit with the rest of the group and they were the only branded products we had," he told the Yorkshire Post.
The rest of the group supplies own-label goods primarily for British retail chain Marks & Spencer as well as the major supermarket groups including Tesco, Sainsbury, Asda and Safeway.
According to the report, the move will see Omega's UK business doubling in size. It is the latest in a line of deals for the company, which is now the largest drug and health products distributor in Belgium.
Omega's UK subsidiary Chefaro will take over Peter Black's vitamin and mineral business in September. The deal will reduce Omega's dependency on seasonal products such as insect repellent Jungle Formula and will provide it with a more balanced portfolio.
Peter Black went private at the end of 2000 in a £223m deal - a result of the market's lack of interest despite a good trading record.