The Düsseldorf-based e-commerce group The Platform Group SE & Co. KGaA announced its next acquisition on Monday. The company has signed a contract to acquire Alzenau-based AEP GmbH, according to a statement.
AEP therefore operates the ApoNow portal, a wholesale platform for the pharmaceutical industry that acts as a “digital interface between local pharmacies and pharmaceutical manufacturers”. According to The Platform Group, the company recently achieved annual sales of over one billion euros and was “profitable”. The sellers are therefore several shareholders. Österreichische Post AG previously held a majority stake of around 51.5 percent.
The now agreed purchase of all shares by The Platform Group is still subject to approval by the antitrust authorities and is expected to be completed in the second quarter, according to a statement. No information was given about the purchase price.
CEO Dominik Benner explained the strategic importance of the planned acquisition for The Platform Group. “With AEP, we are taking the next step in expanding and establishing our business strategy in the pharmaceutical sector,” he explained in a statement. “We have been active in this area since 2021 and are already connected to more than 39,800 pharmacies in Germany, Austria, Italy and Switzerland, of which 16,500 pharmacies are in Germany alone. With AEP, we are now reaching a new level of value creation and are increasingly becoming a full-service provider for pharmacies. Our goal is to strengthen local pharmacies and in particular to connect with the digital activities of our group.”
The group wants to establish the pharmaceutical activities as a separate business area
In view of the increasing importance of the area, the group plans to bundle its pharmaceutical activities under the name Pharma & Service Goods after the takeover of AEP. The aim is therefore to “establish this segment as a completely separate business area with its own management”.
Bjoern Minnier, who is responsible for finance and M&A in The Platform Group management, explained the plans. “The combination of our previous activities in the pharmaceutical sector will create a separate group that covers numerous services and is highly specialized,” he explained, according to a statement. “The goal must be to implement a platform solution as a digital approach for local pharmacies and international manufacturers, and we have reached a milestone in this regard today.” Minnier put the pharmaceutical group’s future sales volume at 1.1 billion euros. Earnings before interest, taxes, depreciation and amortization (EBITDA) will be “over 25 million euros”.
In light of the planned acquisition, the group updated its forecasts for the current financial year. Including contributions from AEP, management now expects on a pro forma basis a gross merchandise value (GMV) of 3.0 billion euros, sales of two billion euros and an EBITDA between 90 and 100 million euros.