Alliance Boots has made its first foray into South America with its purchase of a 25 per cent stake in a Brazilian pharmaceutical wholesaler Athos Farma.
The UK drugs retailer and wholesaler, which was taken private in Europe’s biggest buy-out to date by private equity firm Kohlberg Kravis Roberts and executive chairman Stefano Pessina, declined to say how much it paid for its stake in Athos Farma.
Athos Farma is based in Rio de Janeiro and is privately owned. It is one of the four largest wholesalers in Brazil, with revenue in 2007 of about£556 million.
In a statement, Pessina said the deal is in line with its strategy of “gaining a presence in new geographical territories and emerging markets with strong growth potential”.
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