Although the firm would not be drawn at its 1995 financial results conference (see page 3) on whether it was acquiring Seven Seas, as had been rumored (Marketletter April 29), Merck KGaA announced that it has bought the UK vitamins company as the Marketletter went to press.
Merck paid L150 million ($226.1 million) for Seven Seas; the acquisition, it says, places it among the leading companies in the vitamins, minerals and supplements market in Europe. "The purchase closes the last significant gap in Europe and considerably strengthens Merck's position in the British self-medication market," commented the firm's press office.
Following the acquisition, the Merck group will also be one of the leading companies in the European self-medication market, with sales of around 360 million Deutschemarks ($235.8 million).
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