Gist-Brocades Takes Control Of Orfaquim

Dutch company Gist-Brocades has reached agreement to acquire a 51% controlling stake in Orfaquim, established in Mexico City.

The Mexican company is a converter of crude penicillin into a variety of sterile penicillins for human and veterinary applications. Its turnover is said to be around $22 million and it employs 238 people. Finalization of the transaction, the terms of which are not disclosed, is expected to take place before July 1.

Both companies have already worked closely on the manufacture and marketing of some varieties of sterile penicillins, and the participation is perceived as fitting perfectly in the long-term strategy of Gist-Brocades, aiming for marketplace leadership and local presence in Latin America.