Genomma Lab acquires three OTC brands
Genomma Lab, a pharmaceutical and personal care products company in Mexico, has strengthened its presence in the U.S. branded consumer health market with the purchase of three OTC brands.
Genomma Lab USA, the company's U.S. subsidiary, has acquired the Bufferin brand from Dr. Reddy's Laboratories, and in a separate transaction acquired the Cheracol D and Rose Milk brands from Sheffield Pharmaceuticals. Genomma plans to revitalize the brands and execute a full relaunch by 2020.
"The three heritage brands we acquired have a strong brand equity and consumer recognition built over several decades, at levels above our expectations relative to the purchase price. The acquisition will therefore complement our business well; leveraging our marketing and distribution capabilities while enhancing our presence in the U.S. OTC market. We are excited to add three strong, well-known names to our U.S. portfolio," said Máximo Juda, CEO of Genomma Lab.
"A total investment of US$3.02 million was paid fully in cash, with benefit of Genomma's strong balance sheet," added Antonio Zamora Galland, CFO of Genomma Lab.
Genomma Lab USA, the company's U.S. subsidiary, has acquired the Bufferin brand from Dr. Reddy's Laboratories, and in a separate transaction acquired the Cheracol D and Rose Milk brands from Sheffield Pharmaceuticals. Genomma plans to revitalize the brands and execute a full relaunch by 2020.
"The three heritage brands we acquired have a strong brand equity and consumer recognition built over several decades, at levels above our expectations relative to the purchase price. The acquisition will therefore complement our business well; leveraging our marketing and distribution capabilities while enhancing our presence in the U.S. OTC market. We are excited to add three strong, well-known names to our U.S. portfolio," said Máximo Juda, CEO of Genomma Lab.
"A total investment of US$3.02 million was paid fully in cash, with benefit of Genomma's strong balance sheet," added Antonio Zamora Galland, CFO of Genomma Lab.