Vitalux Expands in Kyiv With Support from EVU Management

Looking to the future of Vitalux as an attractive acquisition in the pharmaceutical industry, Euroventures Ukraine Fund (EUF) II is standing behind the Ukrainian pharmacy chain as it expands its presence in Kyiv. The Vitalux expansion includes 14 new stores on Kyiv’s western bank as well as the assimilation of current pharmacies operating under different brand names into the Vitalux family.

EUF II, in partnership with Ukraine Opportunity Trust PLC, currently owns 56.3% of Vitalux.

Vitalux
Vitalux is a Ukrainian pharmacy chain offering 15,000 products ranging from prescription and OTC drugs to baby care items and health and beauty aids. Vitalux strives to be a Western-style pharmacy with 8 of 44 locations open twenty-four hours and the ability to purchase products online.

Since 2006 Vitalux has enjoyed an average annual growth in net sales of 40%; the number of retail outlets has tripled; and the number of regular clients has exceeded 500,000.

EVU Management / Euroventures Ukraine Fund II (www.evu.kiev.ua)
EUF II is the second of two private equity funds managed by Kyiv-based EVU Management Ltd., which also acts as Investment Advisor to the Ukraine Opportunity Trust PLC. The fund is focused primarily on businesses that are either located in or carry on the bulk of their business in Ukraine.

A typical EUF II investment is between USD 5 and 10 million and will be in the communications, consumer goods, distribution, manufacturing and service sectors. Among the names in the EUF II portfolio are Northern Lights Ventures Inc., a broadband internet provider; real estate developer Korsando Limited; and Vivaldroni Enterprise, the operator of Russia’s Star Galaxy entertainment centers.