A Fine acquisition
Imperial Logistics has acquired a controlling interest in Fine Pharmaceuticals, a Botswana-based pharmaceutical wholesaler. The acquisition is in line with the company’s strategy to integrate pharmaceutical wholesaling into its service offering.
Iain Barton, managing director at Imperial Health Sciences, explains: “Fine Pharmaceuticals, led by Makhosi Sibanda, provides a route-to-market solution for pharmaceutical, over-the-counter and front-shop brand owners targeting the growing retail pharmacy and hospital markets in the region.”
He continues: “In keeping with Imperial’s preferred approach of partnering with local businesses and entrepreneurs, in order to grow its African footprint and augment its service offering, Makhosi and his team retain a sizeable equity stake in Fine Pharmaceuticals.”
The company states that its investment in Fine Pharmaceuticals has been made through Global Holdings Botswana, which was acquired by Imperial as part of CIC Holdings in 2010.
Barton reveals that construction has started on a pharmaceutical-grade warehouse for Fine Pharmaceuticals within the 22 000 m² Global Holdings facility in Gaborone. “Leveraging Global’s fleet of vehicles, all of which are equipped with fleet management and satellite tracking systems, will provide Fine Pharmaceuticals with a national reach for deliveries,” he concludes.