Bulgarian pharmaceuticals manufacturer Sopharma will acquire Belarusian pharmacy chain Interfarm through its Latvian unit Briz, Sopharma said without disclosing the price.
On January 27 2011, Sopharma completed the first stage of the acquisition by gaining control of 44 per cent of Interfarm's capital, according to the statement.
The Belarusian chain, which reported a turnover of 3.7 million euro in 2010, runs 19 pharmacies across Belarus and ranks eighth in terms of retail sales of pharmaceutical products in the country.
Apart from Interfarm's takeover, Briz initiated a series of negotiations to purchase other pharmacy chains last year, with some of the deals expected to be finalised in the first half of 2011, Sopharma said.
As at end-September 2010, Sopharma held a 51 per cent stake in its Latvian subsidiary.