Euroapotheca pharmacy business grew in Estonia: Euroapteek completed transaction to acquire Ülikooli Apteek pharmacy network
UAB Euroapotheca, managing the largest network of pharmacies in the Northern Europe further expanded its business in the Baltic States – on 14 March, Euroapteek OÜ, the subsidiary of Euroapotheca in Estonia, completed the transaction with the Finnish company Yliopiston Apteekki OY and purchased from it the Ülikooli Apteek network of 13 pharmacies, which will be integrated into the Euroapteek system. Euroapteek will also provide all franchise services to another 11 pharmacies having operated under the name of Ülikooli Apteek to this day.
Yet another transaction conducted in parallel was completed on 14 March – Baltfarma OÜ, the wholesaler of Euroapotheca, acquires from Yliopiston Apteekki OY the wholesaler Medapta OÜ.
The transaction amount has not been disclosed.
“We are happy to have managed to implement even two parallel development projects in Estonia and Sweden in a very short time. In half a year, our Group’s business volume doubled, we strengthened our positions in important markets in the Baltic States and started operating in the Scandinavian market. Following these acquisitions, we are looking for new favourable development opportunities to strengthen our position in Northern, Central and Eastern Europe”, said Raimonda Kižienė, Chair of the Board and CEO of Euroapotheca.
The acquisition of Ülikooli Apteek pharmacy business perfectly supplements the existing Euroapteek network and enhances the opportunities of customers in Estonia to use the services provided even more conveniently – the purchased pharmacies are conveniently located and do not overlap with the existing locations of the Euroapteek pharmacies.
The pharmacies of Ülikooli Apteek will continue operating under their current name, and in the long run they will start using the name Euroapteek. Since now on, the Euroapteek network of pharmacies consists of 73 pharmacies – 54 own and 19 franchise pharmacies.
Euroapotheca is an international pharmacy group that runs a network of pharmacies and drug wholesalers in Lithuania, Latvia, Estonia, Poland, Sweden and the Ukraine. Euroapotheca comprises of more than 660 pharmacies in six countries and has more than 3,800 employees. Euroapotheca manages the Eurovaistinė pharmacy network (270 pharmacies) in Lithuania, Apoteksgruppen (189 pharmacies) in Sweden, Euro-Apteka (83 pharmacies) in Poland, Euroapteek (73 pharmacies) in Estonia, Euroaptieka (52 pharmacies) in Latvia, and Euroapteka (four pharmacies) in the Ukraine.
Euroapotheca is part of Vilniaus Prekyba, one of the largest retail groups in the Baltics and Central and Eastern Europe.