Chefaro is engaged in the development, manufacturing and marketing of OTC pharmaceuticals and diagnostics products, principally in Europe. Chefaro has leading positions in the European pregnancy test market, the Dutch vitamins market, the French and Spanish liquid skin disinfectant market and the German and Dutch topical muscular pain relief market. Chefaro employs approximately 280 people and principally sells its products through its own direct marketing salesforce in the Netherlands, France, UK, Germany, Spain and Belgium. In the year ended December 31, 1999, Chefaro reported sales of approximately EUR 90 million.
"The Board of Management will review the offer which appears to be attractive both for Akzo Nobel and Chefaro. For Omega Pharma, the over-the-counter market is its core business and it may well present a very focused and strategic platform for Chefaro, its brands and its national organizations in Europe," an Akzo Nobel spokesman said.
Omega Pharma is a rapidly growing Belgium based pharmaceutical company focused on OTC products, business-to-business products and software to pharmacists on a European scale.
Employee representative bodies and unions have been informed and consultation procedures will commence shortly, where applicable. The required regulatory approvals will be sought as and when appropriate.
Akzo Nobel, based in the Netherlands, serves customers throughout the world with healthcare products, coatings, and chemicals. Consolidated sales for 1999 (excluding Acordis) totaled some EUR 12 billion (USD 13 billion, GBP 8 billion). Currently, the Company employed 68,000 people in 75 countries.
results for the year 2000 will be announced on February 23, 2001.