- EQT Mid Market acquires Fertin Pharma, the world’s largest independent developer and manufacturer of medicated chewing gum
- The founding Bagger-Sørensen family will reinvest and enter into a partnership with EQT Mid Market with the view to further develop and accelerate the growth of Fertin Pharma
- The management team of Fertin Pharma, led by CEO Søren Birn, will remain with the Company and invest alongside the Bagger-Sørensen family and EQT Mid Market
The deal was reached on December 9, 2016, whereby EQT Mid Market agreed to acquire Fertin Pharma (“Fertin Pharma” or the “Company”) from the Bagger-Sørensen family. The Bagger-Sørensen family will reinvest part of their proceeds and will following the transaction own 30% of the Company. All closing conditions have now been satisfied, including customary regulatory approvals.
The Company is the leading independent B2B developer and manufacturer of medicated chewing gum, primarily within Nicotine Replacement Therapy (“NRT”), a pharmaceutical product used for withdrawal management in the process of tobacco cessation. Furthermore, Fertin develops pharmaceutical chewing gum with different APIs (MediChew) and nutraceutical chewing gum products (Nutraceuticals).
Financial terms of the transaction are not disclosed.
About the Bagger-Sørensen family
The Bagger-Sørensen family founded Vejle Caramel og Tablet Fabrik in 1915 and launched the Dandy chewing gum brand in 1939. In 1978, the Swedish company Fertin, known for their V6 chewing gum, was acquired by the Bagger-Sørensen Group. Following the acquisition the company was renamed Fertin Pharma and in 2000 Fertin Pharma launched the world’s first coated nicotine gum. Today, the family brothers Steen and Claus Bagger-Sørensen, along with the family fund, comprise the owners of Fertin Pharma prior to the transaction.
EQT is a leading alternative investments firm with approximately EUR 31 billion in raised capital. EQT Funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 15 billion and approximately 100,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.
More info: www.eqtpartners.com