Andreae-Noris Zahn AG (ANZAG) yesterday signed a share purchase agreement to acquire a 92% stake in Lithuanian pharmaceutical wholesaler JSC Armila.

With a market share of 13 percent, Armila is one of Lithuania’s largest pharmaceutical wholesalers. The company is headquartered in Vilnius, and also has sales offices in Kaunas, Klaipeda and Šiauliai. Armila's 105 employees supply around 1,500 customers throughout Lithuania and the neighbouring Baltic States, most of them pharmacies and hospitals. In 2007, the company recorded sales of just over 62 million euros.

ANZAG is one of Germany’s leading pharmaceutical wholesalers. The company employs around 2,500 full-time staff and 158 trainees, and holds stakes in two companies outside Germany. In 2007, it recorded sales of 3.7 billion euros.

KBCS/BIC acted as a joint financial advisor to ANZAG in the transaction.