DECA Investments AIFM, the exclusive investment manager of Diorama Investments SICAR (“Diorama” or the “Fund”), announced the completion of the Fund’s ninth investment: the acquisition of a 25% stake in PharOs (“PharOs” or the “Company”).
PharOs, which began its operations in Greece in 2002, is engaged in the development, approval, production and distribution of generic pharmaceutical products. The Company’s management includes Stella Koukaki, Theodore Panagopoulos and Panagiotis Panagopoulos, three executives with long experience in the sector of generic pharmaceuticals, who are also shareholders of the Company, keeping their 75% stake. PharOs currently owns a range of 68 products, 34 of which have been launched and 7.000 marketing authorizations. The Company’s products are sold in 90 countries.
Mr. Konstantinos Dermanis, on behalf of DECA Investments AIFM, stated: “The sector οf generics pharmaceuticals is one of Diorama’s target sectors because of the sector’s international nature and high growth rates. PharOS undoubtedly meets these criteria as 95% of sales come from international clients while the Company has achieved dynamic growth in the last several years. In addition, the Company brings together remarkable qualitative characteristics such as dynamic management, high quality personnel and a clientele which includes large multinational pharmaceutical companies. Moreover, the Company recently established a production plant in Malta. We believe that Diorama’s participation in the share capital of Pharos, through the purchase of a 25% stake from a third shareholder, will contribute so that PharOs will continue on its growth path and strengthen its prominent position in the sector.”
The investment in PharOs is the ninth investment of Diorama. The existing investments in Diorama’s portfolio include the production of adhesive tapes (Atlas Tapes), the processing and packaging of tomato based products (Damavand), music streaming and digital advertising in mobile applications (InternetQ), the production of gable top cartons and spouts (Adam Pack), the design, production and distribution of women’s apparel, purses, shoes and accessories (Axel Accessories), digital payments (Viva Wallet Holdings), the production of plastic cups mainly used in the consumption of cold and warm beverages (Lariplast) and the production and packaging of olive oil / dairy products as well as vinegar (Minerva).