Axellus AS has entered into an agreement to purchase Gevita AS, thereby strengthening its focus on the pharmacy sector in Norway and Sweden.
Gevita AS was established in 1998 and sells natural products, vitamins and minerals to the pharmacy channel under the Gevita brand. In 2011, Gevita had total sales of approximately NOK 29 million. The company has five employees.
“The pharmacy channel in Norway and Sweden is growing, and is increasingly perceived by consumers as an important arena for buying dietary supplements. Pharmacies’ focus on quality is in complete alignment with Axellus’s strategy, and our goal is to achieve further growth in the pharmacy sector. By acquiring Gevita AS, Axellus is increasing its efforts towards the pharmacy channel. The Gevita brand will continue to be offered exclusively to the pharmacies in Norway and Sweden,” says Axellus Group CEO Stig Ebert Nilssen.
Under the agreement, Axellus is purchasing 100 percent of the shares in Gevita AS from Euromedica Holding AS. Axellus will also acquire the rights to the sale of Gevita products in Sweden as well. The parties have agreed not to disclose the purchase price. Gevita will become part of Axellus Norway and Axellus Sweden.