Pilulka Lékárny as, which was the first e-commerce company to enter the Prague Stock Exchange this year, is strengthening its position in Romania by buying a 30% stake from minority shareholders.
Pilulka.cz entered the Romanian market in 2018. It was in cooperation with a local partner who operated a network of pharmacies under the Ecofarmacia brand in Transylvania and had a medium-sized drug distributor in Romania. Pilulka.cz has now bought this share and will become a 100% owner of the Romanian subsidiary, which operates the pharmacy and e-shop Pilulka.ro.
Negotiations were not easy, however, we have managed to reach an advantageous compromise for both parties. While our role gradually grew, the role of partner gradually weakened. Therefore, we wanted to take the full responsibility for the Romanian subsidiary. We have big plans in Romania and next year we plan to exceed CZK100 million in sales there.
The company estimated the cost of repurchasing a 30% stake at approximately CZK 10 million. The formal transfer of the share will take effect with effect from 1.1.2021. Pilulka has previously announced that it wants to significantly strengthen its position in Romania. In addition to possible acquisitions, Pilulka also counts on significant investments in business development, especially in the area of technology and operation.