Lupin Ltd to acquire portfolio of brands from Anglo-French Drugs & Industries Ltd

The Board of Directors of Lupin Ltd at its meeting held on January 17, 2022, approved the acquisition of a portfolio of brands (including all rights and interests associated with such products) of Anglo-French Drugs & Industries Limited and its associates (subject to approval of their shareholders), to strengthen the Company's portfolio in the Vitamins, Minerals and Supplements and CNS segments. The turnover of these brands for the year ended March 31, 2021 was INR 946 million.

The acquisition would enable addition of established brands with high recall amongst healthcare professionals, especially in the Vitamins, Minerals and Supplements category.

Value creation is expected from a combination of portfolio of brands to be acquired which coupled with existing products, would lead to EBITDA margin accretion.

A lumpsum consideration of about INR 3250 million including working capital (normalised inventory of three months) amounting to INR 90 million (approx.) on a cash and debt-free basis will be paid for the above acquisition.

Shares of Lupin Limited was last trading in BSE at Rs. 942.55 as compared to the previous close of Rs. 942.55. The total number of shares traded during the day was 133259 in over 3802 trades.

The stock hit an intraday high of Rs. 961.50 and intraday low of 936.80. The net turnover during the day was Rs. 126454582.00.

Source : Equity Bulls

Keywords

Lupin INE326A01037 Acquisition Brands AngloFrenchDrugsandIndustries CNS Vitamins Minerals Supplements