Independent Balkan News Agency

Is FAMAR for sale?

Is FAMAR for sale?
Athens, December 18, 2015/ Independent Balkan News Agency

By Olga Mavrou

According to Bloomberg Marinopoulos Group, the Greek supermarket company which also franchises Gap Inc retailers, is considering the sale of its pharmaceutical company Famar SA. The sale of Famar may fetch about 400 million euros, but the  decision for sale is not final, according to Bloomberg’s sources.

The company FAMAR was established in 1949 and made exports to Italy, Spain and the Netherlands. It is considered one of Europe’s leading providers of Contract Manufacturing and Development Services to the Pharmaceutical and Health & Beauty industry. Over the past years the company  had pursued a strategy of aggressive growth and  this resulted in a series  of acquisitions in France, Italy, the Netherlands, Spain and Greece Today, Famar operates a network of 11 production sites in 5 European countries, 4 development centers and 3 distribution centers.

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