DCC to sell its generic pharma business in Ireland and the UK to Duke Street Capital
Irish stock market listed conglomerate DCC is to sell its generic pharmaceuticals businesses in Ireland and the UK to private equity firm Duke Street Capital.
The DCC Vital division has agreed a sale of the Kent Pharma and Athlone Laboratories units, including manufacturing facility in Co Roscommon.
Financial details have not been disclosed, but DCC bought Kent Pharma in 2012 for €71.2m. It has owned the Athlone manufacturing plant, which employs around 200 staff, since 1992.
In a statement, DCC said the disposal: “will sharpen the strategic focus of DCC Vital, allowing it to concentrate on those areas where it has market leading positions and sustainable competitive advantage, in particular in the sales, marketing and distribution of medical products in Britain and Ireland.”
The transaction is expected to complete in the third quarter of 2019