Lupin announced that its Board of Directors at its meeting held on January 17, 2022, approved the acquisition of a portfolio of brands of Anglo-French Drugs & Industries to strengthen the company’s portfolio in the vitamins, minerals and supplements and CNS segments.

The company said the cost of acquisition is about Rs 325 crore including working capital amounting to Rs 9 crore on a cash and debt-free basis. The turnover of these brands for the year ended March 31, 2021 was Rs 94.6 crore. The entire process is expected to be completed by March 2022.

The note to the exchange said that the portfolio of products being acquired is in line with the business of the company. The acquisition would enable addition of established brands with high recall amongst healthcare professionals, especially in the vitamins, minerals and supplements category. Value creation is expected from a combination of portfolio of brands to be acquired which coupled with existing products, would lead to EBITDA and margin accretion

Total revenues of AFDIL in the last 3 years were: - FY19 - INR 1290 million; FY20 - INR 1301 million; and FY21 - INR 1534 million. AFDIL has presence in India and overseas.