Plethico Pharma has acquired US-based Natrol for USD 80.7 million. Natrol operates primarily in North America.
Sanjay Pai, CFO, Plethico Pharma said that the Natrol buy will double their revenues to about Rs 1000 crore shortly. He added that the acquisition will also mark Plethico's entry into the US, UK and Hong Kong markets.
Wayne Bos, CEO, Natrol said that the company has been profitable for the last two years. He added that over USD 30 million worth of revenues are likely to come from their own acquisitions.
Excerpt of CNBC-TV18's exclusive interview with Sanjay Pai and Wayne Bos:
Q: Tell us about Natrol, and how it fits in with Plethico?
Pai: I will just introduce Wayne Bos, who is the CEO of the company that we have acquired. And he will give you some thoughts on the acquisition.
Bos: What's happening here is Plethico is looking to acquire Natrol, and we have put the merger agreement in place, so the transaction is happening now. The company operates primarily in North America and have about 8-9% of our revenues are international. We are a
