So.Farma.Morra has acquired a controlling stake in the pharmaceutical distribution & logistics business unit of Corofar.
So.Farma.Morra, which has a client base of 6,200 pharmacies and 15 branches covering 50,000 sqm, will increase its sales to over €1.0bn and its market share up to circa 8% in the intermediate distribution of pharmaceutical and para-pharmaceutical products. Corofar is a cooperative with a network of circa 400 pharmacies among its clients and shareholders, and recorded sales of circa €124mln in 2018. The deal allows Corofar to focus on its core business which consists in developing its network and supporting its shareholders.
Vitale&Co acted as financial advisor, assisting So.Farma.Morra in the economic and financial analyses, origination of the transaction and definition of the structure and the terms, management of the due diligence activities, negotiations and definition of the agreement with the counterpart until the execution of the transaction.