TIDMDCC
RNS Number : 0387T
DCC PLC
12 November 2019
12 November 2019
DCC Healthcare announces acquisition of Ion Laboratories
DCC plc, the leading international sales, marketing and support
services group, announces that DCC Health & Beauty Solutions
has acquired Ion Laboratories, Inc ('Ion'), a provider of contract
manufacturing and related services to the growing health
supplements and nutritional products market in the US.
The acquisition of Ion follows the acquisition of Elite One
Source in February 2018 and will significantly enhance DCC Health
& Beauty Solutions' service offering to customers in the US
market. Ion has a broad product format capability encompassing
tablets, capsules, powders and liquids across a variety of product
categories including herbal and botanical products, probiotics and
liquid nutritionals. Ion is currently commissioning a new
nutritional gummies manufacturing line which will provide DCC
Health & Beauty Solutions with capability in this fast growth
category. Ion's customer base largely consists of specialty brand
owners and its service offering includes product development,
formulation, manufacturing, packaging and regulatory services.
Ion's well-invested facilities in Largo, Florida extend to
350,000 square feet and provide capacity to meet its organic growth
plans. The facilities comply with FDA cGMP (current Good
Manufacturing Practices) and Health Canada standards and are
certified by leading third-party regulatory bodies, including NSF
and USDA Organic. The business is led by an experienced management
team, employs 360 people and has revenues of approximately $80
million.
The consideration was based on an enterprise value of
approximately $60 million (GBP46 million), most of which was paid
in cash on completion.
Donal Murphy, Chief Executive of DCC plc, said today:
"DCC Health & Beauty Solutions provides high-quality
services to leading health and beauty brand owners, specialist
retailers and direct sales organisations. The acquisition of Ion
significantly enhances our presence in the US market and Ion will
work closely with both Elite One Source and DCC Health & Beauty
Solutions' European businesses to cross-sell the full breadth of
the Group's comprehensive offering for health & beauty
brands.
The US is the world's largest health supplements and nutritional
products market. It is also an innovative, high-growth market, with
a fragmented contract manufacturing base. We continue to be excited
by the significant opportunities for organic and acquisitive growth
in this market."
For reference:
Donal Murphy, Chief Executive
Conor Costigan, Managing Director, DCC Healthcare
Kevin Lucey, Head of Capital Markets
Telephone: +353 1 2799400
Email: investorrelations@dcc.ie
Web: www.dcc.ie
Powerscourt (Media)
Lisa Kavanagh / Victoria Palmer-Moore
Telephone: +44 20 7250 1446
Email: DCC@powerscourt-group.com
About DCC plc
DCC is a leading international sales, marketing and support
services group with a clear focus on performance and growth. It
operates through four divisions: LPG, Retail & Oil, Technology
and Healthcare.
DCC is an ambitious and entrepreneurial business operating in 20
countries, supplying products and services used by millions of
people every day. Building strong routes to market, driving for
results, focusing on cash conversion and generating superior
sustainable returns on capital employed enable the Group to
reinvest in its business, creating value for its stakeholders.
Headquartered in Dublin, employing approximately 12,700 people,
DCC's four divisions are:
-- DCC LPG - a leading LPG sales and marketing business with
operations in Europe, the US and Asia and a developing business in
the retailing of natural gas and electricity;
-- DCC Retail & Oil - a leader in the sales, marketing and
retailing of transport fuels and commercial fuels, heating oils and
related products and services in Europe;
-- DCC Technology - a leading route-to-market and supply chain
partner for global technology brands and customers; and
-- DCC Healthcare - a leading healthcare business, providing
products and services to healthcare providers and health and beauty
brand owners.
DCC plc is listed on the London Stock Exchange and is a
constituent of the FTSE 100. In its financial year ended 31 March
2019, DCC generated revenue of GBP15.2 billion and operating profit
of GBP460 million.
DCC has an excellent record, delivering compound annual growth
of 14% in operating profit and generating an average return on
capital employed of approximately 19% over 25 years as a public
company.
About DCC Healthcare
DCC Healthcare is a leading healthcare business, providing
products and services to healthcare providers and health and beauty
brand owners. DCC Healthcare operates through two businesses, DCC
Vital and DCC Health & Beauty Solutions. DCC Vital markets and
sells medical and pharmaceutical products to healthcare providers
across all sectors of the healthcare market in the UK and Ireland.
DCC Health & Beauty Solutions builds long-term partnerships
with international brand owners, providing specialist services
including product development, formulation, manufacturing and
packaging.
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END
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