- These acquisitions reinforce Genomma Lab's presence in the cosmetics and hair product categories and mark the Company's entrance into the lotions and perfumes segments
- Genomma Lab continues the acquisition program announced during the Company's public offering, which took place in June 2008
MEXICO CITY, June 5 /PRNewswire-FirstCall/ -- Genomma Lab Internacional S.A.B. DE C.V. (BMV: LAB) ("Genomma Lab" or "the Company"), one of the largest and most diversified Mexican companies in the pharmaceutical and personal care products categories, announced the acquisition of the brand of lotions Flor de Naranja Sanborns(MR), the brand properties for Teatrical creams, Henna Egipcia hair color, and a 99 year license for the use of Sanborns(MR) brands from the acquired brands.
With this acquisition, Genomma Lab strengthens its presence in the face cream and body lotions markets as well as hair products categories, while expanding its offering of lotion and perfume products. Sales for the acquired brands reached Ps. 110.3 million during the trailing twelve months ended April 30, 2009.
Teatrical is a traditional and popular brand in Mexico. Registered for sale since 1928, its range of face creams and body lotions has been on the minds of several generations of consumers for over 80 years.
Cologne water Flor de Naranja Sanborns(MR) has an 82-year trajectory and is also one of the most recognized brands in its market segment.
Finally, Henna Egipcia is a recognized brand of discreet hair color products with a nearly 45-year history in the marketplace.
"These acquisitions are in line with the Company's growth strategy implemented since the public offering, which includes the generation and acquisition of new brands and products in order to increase its presence in the medicinal and personal care products markets," stated Mr. Rodrigo Herrera, Chief Executive Officer.
Genomma Lab seeks to revitalize its acquired brands and strengthen its expansion via the application of its business model.
Genomma Lab paid for this transaction with its own resources at a multiple of 2.7x sales for the trailing twelve months for a total of Ps. 300 million, of which approximately 50% will be paid in 10 payments over 10 years.
Genomma Lab Internacional, S.A.B. de C.V. is a leading over-the-counter pharmaceuticals and personal care products company in Mexico with international presence. Genomma develops, sells and markets a broad range of premium branded products, many of which are leaders in the categories in which they compete in terms of sales and market share.
The Company is listed on the Mexican Stock Exchange under the ticker symbol "LAB.B" (Bloomberg: labb.mx).
Web Site: www.genommalab.com
|SOURCE Genomma Lab Internacional, S.A.B. de C.V.|
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