LYNCHBURG, Va., Jan. 12 /PRNewswire/ -- C.B. Fleet Company, Inc. today announced it has acquired 100 percent of the shares in CCS, a leading supplier of pharmaceutical and personal care products that are popular in the Swedish market.
Douglas Bellaire, president of C.B. Fleet, said: “We believe that CCS will greatly strengthen our company’s long term global position. We welcome CCS to the C.B. Fleet family of companies.” Bellaire indicated that the acquisition fits perfectly into C.B. Fleet’s global organization, which already includes an extensive presence in Europe with subsidiaries in Spain, Italy and the U.K.
“The acquisition of CCS represents a milestone in C.B. Fleet’s international growth strategy, expanding our presence in the Nordic region while complimenting our global product portfolio with the strong CCS brand and product range,” said Jeff Rowan, executive vice president of Global Marketing and International Operations of C.B. Fleet.
Jonas Nilsson, CEO, CCS, praised the acquisition, stating that C.B. Fleet and CCS have very similar business strategies and cultures, and that CCS will greatly benefit from Fleet’s product development and marketing resources. CCS generated a turnover of over euro 17 million in 2003.
Headquartered in Borlange northwest of Stockholm, CCS, with over 100 employees, produces and markets pharmaceuticals, skin care and eye care products. Within pharmaceuticals, the company focuses on over-the-counter and prescription dermatology and ophthalmology products. Products are primarily sold through pharmacies but also through major grocery retail chains in the Nordic region and in the United Kingdom.
“The attractive range of CCS products combined with our existing European personal care and pharmaceutical brands offers promising growth opportunities in the Nordic region,” said Steven Ruhf, director of Global Business Development of C.B. Fleet.
C.B. Fleet Company is a privately held pharmaceutical and personal care company located in Lynchburg, Virginia. Founded as a family owned pharmacy in 1869 by Dr. Charles Browne Fleet, C.B. Fleet has expanded globally to offer easy to use and innovative health and beauty care products to people in over 80 countries.
C.B. Fleet was advised in this transaction by Avantus Corporate Finance in Stockholm, a member of M&A International, Inc.
C.B. Fleet Company, Inc.
CONTACT: Christopher Martin for C.B. Fleet Company, Inc.,+1-312-494-8532, christopher.martin@eurorscg.com
