Owens & Minor to Acquire European Logistics Company Movianto Group
Owens & Minor, Inc. (NYSE:OMI), a Richmond based distributor of medical and surgical products and logistics provider plans to acquire Movianto Group from Celesio AG for $158 million. Movianta Group specializes in third party logistics for the pharmaceutical and medical device industries in the European market.
The transaction is subject to the fulfillment of certain customary local legal provisions. Owens & Minor, which has a U.S.-based, third party logistics service, but no European operations, plans to integrate the two businesses, and plans to keep the Movianto teams and logistics centers located across Europe intact. Celesio and Owens & Minor also intend to explore mutually beneficial projects in distribution and logistics in the healthcare markets.
“The intended acquisition of Movianto provides Owens & Minor with a premier European healthcare logistics franchise, enabling us to significantly expand our existing third-party logistics presence and scale,” said Craig R. Smith, president & chief executive officer of Owens & Minor. “Our manufacturer partners have increasingly expressed interest in working with Owens & Minor on a global basis, and Movianto provides us with an exceptional platform from which to serve them. Owens & Minor looks forward to working with the Movianto and Celesio teams to serve customers and create long-term value.”
“We can combine this with the opportunity to pursue partnerships with Owens & Minor, a leading U.S. company,” said Markus Pinger, chief executive officer of Celesio.