Bomi Group > News & Stories > BOMI GROUP STRENGTHENS ITS LEADERSHIP IN BRAZIL

BOMI GROUP STRENGTHENS ITS LEADERSHIP IN BRAZIL

2017-08-01

Acquisition of the residual minority stake, of the indirect subsidiary "Biomedical Distribution Mercosur Ltda" ("Biomedical Brazil")

Bomi Group announces that on July 28th, 2017 it has been signed a binding agreement aimed at acquiring the residual minority stake, equal to 45% of the share capital, of the indirect subsidiary "Biomedical Distribution Mercosur Ltda" ("Biomedical Brazil") through the divestment of participation by Luft minority shareholders to the majority shareholder Biomedical Italia.

Biomedical Brazil is Brazil's largest private-sector logistic operator in the biomedical-hospital sector (3PL), able to provide unique and customized solutions for more than 40 domestic and multinational companies. The company is a point of reference logistics operator in the medical market, handling each year more than 1 million shipments and with a continuous international network growth. Biomedical Brazil recorded revenues of 147.4 million Reais (corresponding to approximately Euro 39.8 million),  accounting for approximately 40% of the total turnover of Bomi Group.

As part of the overall operation, the parties have undertaken a five-year non-compete agreement with respect to storage and transportation throughout Brazil and specific pre-identified customers.

Bomi Group keeps pursuing the objective of consolidating its participation in the largest reference geographic markets in which it operates as well as the  integration of strategic minorities in line with its development strategy already announced in the admission listing on the Stock Exchange. The operation strengthens the bases for the development of Bomi Group in Brazil and in general in the South American continent. 

Marco Ruini, Vice-President and Chief Executive Officer of Bomi Italia S.p.A. commented: "This transaction represents an epochal moment for Bomi Group: after about 20 years of profitable collaboration with Luft Group, to which goes our thanks and best wishes, Bomi focuses in a unique and independent way on its core business, with the aim of strengthening its market leadership in Latin America. Trade synergies will be even more refined and Bomi Brazil will be at the heart of this new era, based on technology and high quality service for our customers. The economic consolidation resulting from the operation will also be useful in targeting investment policies in the region, thanks to the full control of cash flows. "