Hypermarcas acquires Neo Quimica
This article was originally published in The Tan Sheet
Leading Brazilian toiletries maker Hypermarcas looks to expand further in the OTC drug market by offering $751 million for drug firm Neo Quimica. The deal ties in with the firm's strategy to build its brand portfolio in the personal and beauty care sectors as jobs and household income grow in Brazil. The firm has made 24 takeovers since its founding in 2000. Neo Quimica, founded in 1959 and based in Goias, had gross revenue of $217.6 million over the past 12 months. According to the agreement, the Goncalves family, which controls Neo Quimica, will hold two seats on Hypermarcas' nine-member board and will form part of the company's ruling bloc
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