EBOS Group is the largest and most diversified Australasian marketer, wholesaler and distributor of healthcare, medical and pharmaceutical products. It is also a leading Australasian animal care products marketer and distributor. With more than 2,400 employees in 42 locations across Australasia, and sales of more than $6 Billion, EBOS Group is a major contributor to the healthcare of millions of people throughout the region.
Red Seal Managing Director, Rolf Hilke said: “Red Seal has been through a period of rapid growth, over the last 18 months in particular. The business is now reaching a point where it requires new energy to take advantage of the many opportunities in front of us. As many of you know, we have decided the time is right for a change of ownership to ensure Red Seal can realise its full potential. We are happy to announce we have found a great company to purchase the Red Seal business – Endeavour Consumer Health Limited, which is a wholly-owned subsidiary of EBOS Group Limited (a company which is dual-listed on the ASX and the NZX Main Board). Red Seal and EBOS have signed a sale and purchase agreement pursuant to which Red Seal proposes to sell its business to Endeavour Consumer Health Limited. Completion of the sale and purchase agreement is subject to customary conditions, however the sale of Red Seal’s business to Endeavour Consumer Health is expected to complete on 30 November 2015.”
Upon completion of the sale, the business would have a new management team led by Patrick Davies (CEO) and Andrew Vidler (General Manager, Retail Services).
The current senior management team of the business will continue to be involved with the business for a period of time to assist with the smooth transition of ownership and management of the business.