“We are currently pursuing a number of potential acquisitions across Central and Eastern Europe," said Robert Chmelar, VC of Walmark’s Board of Directors. He said Walmark was pursuing an “ambitious strategy of organic and acquisitive growth”.
Valosun owns brands like the prebiotic-probiotic blend Biopron (digestive health) and urinary tract infection (UTI)-focused brand Uroval based on cranberry extracts.
Other brands include Proval – a herbal blend targeting prostate cancer and Hemodin, a Horse Chestnut (Aesculus hippocastanum) based supplement targeting blood circulation.
In June Walmark bought the Pneumolan range of OTC child-focused herbal immunity products another Czech supplements firm Novascon Pharmaceuticals and Walmark said it was not finished buying.
Pneumolan sales totalled about €3.5m in 2014. Walmark previously bought the Sinulan Forte brand from Novascon, also in 2014.
“complement our existing presence"
New addition Valosun is focused on the Czech and Slovakian markets, with some of its products being advocated by health professionals and so sold in medicinal channels. It trades in six other market including Poland, Armenia and Vietnam.
Walmark CEO Jorge C Manuel said the acquisition would “complement our existing presence in two key growth categories and further strengthens our positions in the key Czech and Slovak markets."
The transaction sees Walmark take possession of Valosun’s “brands, teams and medical expertise”.
Chmelar is also the director of Mid Europa, the investment firm that took 50% control of Walmark in 2012. The other 50% is owned by the Walach family.
Walmark has subsidiaries in Bulgaria, Estonia, Hungary, Latvia, Lithuania, Poland and Romania.
Its products sell in more than 30 countries.