Pharma Specialist EHDH Moves for Movianto Acquisition
22nd January 2020
France-based pharma logistics specialist EHDH says it wishes to acquire Movianto from Owens & Minor (NYSE: OMI). This transaction would create the European leader in transport and logistics services dedicated to the pharmaceutical sector, it says. Stéphane Baudry (above), Chairman and CEO of EHDH, will remain the group’s majority shareholder.
The proposed transaction fits with the strategy and vision of both groups, said EHDH in a statement. “Thanks to this structuring acquisition, EHDH would be able to leverage Movianto’s geographical coverage, reputation and resources to offer the first ‘one-stop-shop’ logistics solution throughout Europe. Selling Movianto would also allows Owens & Minor to focus on its core value proposition.”
Stéphane Baudry, CEO of EHDH said: “The quality of operations, the solid reputation and the values of Movianto are perfectly consistent with EHDH. This opportunity comes at a key moment in our development and in response to market demand for a single contact to handle all logistics and transport services at European level.” The contemplated transaction is subject to ordinary closing conditions, regulatory approvals and mandatory works council discussions. Once this process has been completed, the transaction is expected to be completed in the first half of 2020.”