AmerisourceBergen Corporation announced that its wholly owned subsidiary, AmerisourceBergen Canada Corporation, has signed an agreement to acquire Rep-Pharm Inc. The purchase price was not disclosed.
AmerisourceBergen expects to complete the acquisition by September 30, 2006, the end of its fiscal year, and anticipates Rep-Pharm will not be material to earnings.
"When we complete the acquisition of Rep-Pharm, we will have built our Canadian pharmaceutical distribution business to over US$1.4 billion in annualized sales and achieved the #2 position in the Canadian market," said R. David Yost, AmerisourceBergen chief executive officer. "The acquisition also continues AmerisourceBergen's strategic focus on the pharmaceutical supply channel."
As part of the transaction, Monty Kobrin and Herbert Kobrin, president and vice president, respectively, of Rep-Pharm, will continue to be part of AmerisourceBergen Canada.