Recordati Purchases Herbacos From Bochemie owned by Benson Oak

In a deal worth nearly EUR 19 million, Italian pharmaceutical group Recordati has acquired Czech pharmaceutical company Herbacos-Bofarma from Bochemie owned by Benson Oak. Recordati financed the purchase using current liquid assets. The deal is part of the overall strategy Recordati is employing to increase its presence in Central and Eastern European Markets.

Herbacos-Bofarma (www.hbf.cz)
Herbacos-Bofarma was formed originally as HERBACOS ltd. in 1991. The focus at that time was the production and distribution of phytotherapeutic products and phytogenic pharmaceuticals. The company became part of the Bochemie Group in 1997 and has since become a full-fledged pharmaceutical manufacturer. With headquarters in Pardubice, Czech Republic, Herbacos employs roughly 100 people and posted sales of EUR 12 million in 2008.

Bochemie (www.bochemie.cz)
Bochemie Group consists of several manufacturing and trading companies and operates as a supranational organization. It was established in 1995 by parent company Bochemie s.r.o. and currently operates in the Czech Republic, Poland, Slovakia, Turkey, and Vietnam. The group became part of Czech investment firm Benson Oak in 2007 and now focuses its operations in five key areas: health care and agriculture disinfection, wood and masonry protection products, cleaning agents, metal treatments, and materials for accumulators.

Recordati (www.recordati.com)
Begun in 1926, Recordati is a European pharmaceutical group listed on the Italian Stock Exchange. Recordati engages its activity in the research, development, manufacturing and marketing of pharmaceuticals. They promote a wide range of both proprietary and licensed drugs and are committed to the research and development of new drug therapies in the cardiovascular and urogenital fields. The company is based in Milan, Italy with a workforce of over 2,900 employees. It posted revenues of EUR 689.6 million in 2008.

Benson Oak Capital (www.bensonoak.com)
Benson Oak is a Prague-based investment banking firm established in 1991. The company specializes in assisting clients with equity capital and executing mergers and acquisitions. Benson Oak advises in risk management, project financing and privatization. The firm works in the Czech and Slovak regions with both multinationals and small-to-medium companies.

Its private equity arm, Benson Oak Capital, provides equity financing for buyouts, expansion capital, and special opportunities in the Czech Republic and Slovakia. Benson Oak Capital has made investments since 2001.