PRESS RELEASE

Munich, 8 March 2020

A team of honert led by lead partner Sven Fritsche and senior associate Dr. Kai-Klemens Wehlage provided comprehensive legal and tax advice to the Santo Group as well as coordinated the process with regard to the various jurisdictions involved on the sale of the SIDROGA Group within a structured bidding process, which was successfully completed with the Spanish Uriach Group.

The SIDROGA Group is a medium-sized company with more than 150 employees and distributes pharmaceuticals and medical products in the field of respiratory and tea therapy in various European countries.

The Spanish company Uriach takes over the SIDROGA Group and can thus expand its market presence in the health sector in further European countries.

The SIDROGA Group thus remains part of a family business. Just like the Santo Group previously, the Barcelona-based Uriach Group is a renowned, family-run pharmaceutical company.

Oriol Segarra, CEO of Uriach, commented on the transaction:

“The company’s long experience in the healthcare market, its strong commitment to innovation, the recognition of its leading brands and its professional, experienced and dedicated team were key factors in this agreement. It is a company whose culture, strategy and portfolio fit perfectly with Uriach’s business model and our strategic goals for the future. In addition, many interesting commercial synergies exist with Sidroga, resulting from the overlap of our activities and products between the different countries where we are already present. All this represents a very important impetus for our internationalization – in addition to entering one of the most traditional and projective markets in the self-care segment based on natural formulations”.

Both parties have agreed not to disclose the purchase price.

Consultants Santo-Group:

honert (Munich): Sven Fritsche (M&A and Tax), Dr. Kai-Klemens Wehlage (M&A and Corporate), Andrea Hötzel (M&A), Dr. Simon Busch (Tax)

For Swiss law:
Bauman Inderkum & Muheim (Zug): Dr. Matthias Inderkum (Stock Corporation Law), Barbara Merz (Corporate Law)

Consultants Uriach-Group:

Noerr Partnerschaftsgesellschaft mbB: a team led by Dr. Michael Brellochs, Dr. Georg Langheld

Niederer Kraft Frey (Zurich): Thomas Brönnimann