A Wiltshire-headquartered healthcare group has acquired a US scar treatment brand in a deal worth $19.4m (£14.8m).
Chippenham’s Alliance Pharma has bought ScarAway, and the rights to sell Kelo-cote in the retail consumer market in the US, from Perrigo Company Plc.
The UK business used cash from the group's existing financial resources to acquire both assets, it said.
ScarAway is a silicone-based brand, which has net 12-month sales of $10m and market share of 28%, with an estimated current retail value of around $90m per year, Alliance said.
According to the Wiltshire company, the acquisition of the US brand “accelerates” Alliance's strategy in the US.
Peter Butterfield, chief executive of Alliance, said: "I'm delighted to have completed such a strategically important and earnings enhancing acquisition for Alliance which creates our first fully global brand in Kelo-cote and significantly enhances our presence in the largest consumer healthcare market in the world."
ScarAway and Kelo-cote, generated combined EBITDA of around $2m in the 12 months to February 28, 2022.
Alliance said it expected the acquisition to "enhance earnings immediately", with further strategic benefits anticipated in future years.
In the first full year of ownership the acquisition is expected to deliver a return on invested capital in excess of Alliance's weighted average cost of capital, the Wiltshire firm added.
Numis Securities and Invest Bank were also involved in the deal.
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