Strides Arcolab International (SAIL UK), a wholly owned subsidiary of Strides Pharma Science in UK, proposes to acquire balance stake in Strides Global Consumer Healthcare (Consumer UK) from the existing Investor.
Consumer UK is an IP holding entity and is into the business of sale and distribution of pharmaceutical and other over-the-counter consumer health care products, through its subsidiaries in US and India.
SAIL UK is currently holding 19% stake in Consumer UK. As at 31 March 2024, carrying value of this investment in the books of SAIL UK is NIL. SAIL UK is acquiring the balance 81% stake from the existing Investor at GBP One.
Strides Group has assessed the business opportunity and would like to strengthen its existing portfolio with the CHC Brands which have good recall value. Strides can leverage its relationship with wholesalers in the US and other geographies and advance this business in various territories like US, UK and MENA.
Source: Business-Standard