Hygie31, a key player in the Pharmacie Lafayette and Pharmacorp networks, acquires Elsker Group in Roubaix.
Read the original CFNEWS article here.
Hygie31, a key player in the Pharmacie Lafayette and Pharmacorp networks, acquires Elsker Group in Roubaix. The Toulouse-based company, advised by Joffe & Associés (Christophe Joffe, Camille Malbezin & Carla Ferron) in this transaction, is taking a majority stake in Elsker alongside the three founders.
Hygie31 continues to expand. The company has become a majority shareholder in the Elsker group, a major player in the pharmaceutical sector, based in Roubaix. Founded in 2009 by Cyril Tétart, Alexis and Gaétan Bocahut, Eslker today brings together the Pharmacyal network of 127 independent local pharmacies, with sales of 225 million euros, the Norcap pharmaceutical purchasing group and the Mieux vivre à domicile medical equipment distributor, which serves 350 pharmacies and stores. It has recorded sales of 245 million in 2022, up 12%.
The group’s founders remain at the helm, and estimate that the number of pharmacies in the network will increase to 200 within the next five years.
The process, launched at the end of last year by Septentrion, attracted the interest of players in the sector, four of whom reportedly made an offer.
“Hygie31 quickly positioned itself to win the deal,” explains Guillaume Dubois, partner at the M&A consultancy. The Toulouse-based group, backed by Latour Capital and Bpifrance, which took over from FAPI last summer, is no novice. At the beginning of 2022, he took over Gener +, the holding company for the network of 740 pharmacies under the Pharmacorp banner and its €750 million in sales. A few months later, he crossed borders by signing the takeover of Ecoceutics, a group of 156 pharmacies (€200 million in revenues) in Catalonia.
This merger enables us to consolidate our approach to the French pharmacy market by offering complementary models (chain pharmacy with Pharmacie Lafayette and traditional pharmacy with Pharmacorp and Pharmacyal) to consolidate the pharmacy as the French people’s first point of contact for health,” explained Chairman Hervé Jouves in a press release. It also confirms our desire to welcome regional groups of local pharmacies and support them in their development.
- Target company : ELSKER GROUP (LA SANTÉ.NET, PHARMACYAL, NORCAP, MVD)
-
Purchaser or Investor : GROUPE LAF SANTE (HYGIE31) , Hervé Jouves , LATOUR CAPITAL , BPIFRANCE INVESTISSEMENT , FIVE ARROWS PRINCIPAL INVESTMENTS (FAPI)
-
Vendor : GROUPE IRD , David Leprêtre , FOUNDERS, Cyril Tétart , Alexis Bocahut , Gaétan Bocahut
- Purchaser Corporate lawyer : JOFFE & ASSOCIES , Christophe Joffe, Camille Malbezin, Carla Ferron
- Transferor Investment banker / M&A advisor : SEPTENTRION FINANCE , Guillaume Dubois
