4care AG (Germany) - Dec 2007

AVIDA Group has increased its shareholding in contact lenses and care products supplier Lenscare AG to 100%. AVIDA Group already held more than 50% of the shares of Lenscare AG since March 2007 via Berlin Capital Fund GmbH, which was taken over under the terms of a secondary transaction. The remainder of the shares is now held directly through AVIDA Opportunity Fund II. The purchase price was not disclosed. Lenscare AG has been renamed as 4care AG.

The investor cited that the German market has a great potential for expansion, as the proportion of people wearing contact lenses is still low in international terms. The investor will also promote new business sectors such as the recent market entry into the retail sector or sales through chemists, ophthalmologists and specialist opticians. The clear shareholder structure is cited as being advantageous for this. The investor will focus on the organic growth at the existing location in Kiel, but also consider strategic purchases that expand the business vertically or horizontally.

Company

Kiel-based 4care was founded in 1995 and is a Europe-wide provider of contact lenses and care products. The company employs a staff of about 50.

People

Johannes Rabini and Carsten Just handled the transaction for AVIDA Group.

Advisers

Equity - Salans, Andreas Ziegenhagen, Ulrich Thölke (Legal)

Sourced from: Deutsche unquote" 95 (Feb 2008)

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• Topics
• DACH
• Expansion
• Healthcare
• Germany