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Atrium goes to Germany

This article was originally published in The Tan Sheet

Executive Summary

Atrium Innovations will expand its operations into Germany with the $175 mil. acquisition of German OTC and dietary supplements maker Mucos Emulsions, Atrium announces July 12. The acquisition gives Atrium a "privileged access to the German market, the largest European market for dietary supplements," and allows the firm to establish its European Health and Nutrition Division, the company says. Mucos' top brand is Wobenzym, "Germany's most popular natural anti-inflammatory product," and Atrium expects the buy to increase its earnings by approximately $27 mil., the firm says. The deal "should be followed by further acquisitions and strong organic growth as we did in the United States and Canada," Atrium CEO Pierre Fitzgibbon says...

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Atrium Innovations will be able to "accelerate its growth and development" in the U.S. following an American court ruling allowing the firm to sell enzyme-based supplement Wobenzym N in the country, the Canadian firm announces Nov. 15. Concurrently, Marlyn Neutraceuticals is ordered to stop using the Wobenzym N trademark and selling products under the brand name. Wobenzym N, a product intended to benefit the health of joints, muscles and tendons, was developed by German company Mucos, which Atrium acquired for $175 million in July 2007. At the time, the firm projected the purchase would accelerate its earnings by approximately $27 million (1"The Tan Sheet," July 23, 2007, In Brief). Annual European sales of Wobenzym N currently are more than $90 million...

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