Merelbeke, 17th of May 2021
Ceres Pharma acquires Bulgarian ABOPharma
Belgian based Ceres Pharma, a dynamic and fast-growing pharmaceutical company, active in healthcare & well-being, has completed the acquisition of the Bulgarian firm, ABOPharma. The price of the takeover will not be disclosed.
The acquisition of ABOPharma is an important step in the further development of Ceres Pharma in Central and Eastern Europe.
In 2018 Ceres Pharma acquired Ceumed, a company active in derma-cosmetics and medical devices in Hungary, Czech Republic, Slovakia, Bulgaria, Serbia and Romania. In 2020 Viva Pharma, a Romanian company active in derma-cosmetics and medical devices was taken over. Today, ABOPharma, a Bulgarian pharmaceutical company is acquired.
"I am extremely happy that we have come to an agreement with ABOPharma. This acquisition fits perfectly within our company strategy to further develop Ceres Pharma in Central and Eastern Europe. Ceres Pharma and ABOPharma share the same growth vision and commercial strategy. The ABOPharma brands are well known by Bulgarian doctors, pharmacists and consumers and very visible in the Bulgarian pharmacies and drugstores.”, says Mario Debel, CEO of Ceres Pharma.
ABOPharma realised a turnover of 9.4 million euros in 2020 and employs 90 people. The founders, Anton Grigorov, Executive Manager of ABOPharma, and Gavrail Gavrailov, Commercial Manager of ABOPharma, will remain on board. All Ceres Pharma brands currently sold in Bulgaria will be integrated in the ABOPharma structure.
“We are particularly proud to be part of a bigger international group, such as Ceres Pharma. Together, we will be stronger to execute our ambitious growth plan in Bulgaria and we will be able to sell our current brands and new innovative products in the other Ceres Pharma countries", says Anton Grigorov, Executive Manager of ABOPharma.
Sofia-based ABOPharma is a marketing and sales company active in food supplements and medical devices in Bulgaria. ABOPharma is present in different therapeutic areas such as: vitamin and mineral supplements, cough and cold, immune system, digestive health and cardiovascular health.
About Ceres Pharma
Ceres Pharma is a dynamic and fast-growing Belgian based pharmaceutical company founded in 2017 by CEO Mario Debel and the investment company Alychlo. The ambition of Ceres Pharma is to grow the company by developing its own portfolio and through acquisitions. Ceres Pharma is active in the development, production and distribution of drugs, medical devices, biocides, cosmetics, high-quality food supplements and pharmaceutical compounding in the Benelux, Central and Eastern Europe.