November 6, 2019 / 1:23 PM / 9 days ago

German pharma ingredients maker PharmaZell put up for sale: sources

FRANKFURT (Reuters) - German supplier of active pharmaceutical ingredients PharmaZell has been put up for sale by its private equity owner, people close to the matter said.

Deutsche Private Equity (DPE) is working with Rothschild on the planned divestiture of the group with about 50 million euros in earnings before interest, tax, depreciation and amortization, they said, adding that the auction is expected to kick off later this year.

Pharmazell, set up in 1946 as a maker of pharma ingredients derived from waste of the local pulp industry, was bought by DPE in 2014 and then merged it with Italian peer Farmabios SPA.

The Raubling, Germany-based company employs 700 staff and posted sales of 170 million euros in 2018.

DPE and Rothschild declined to comment.

Reporting by Arno Schuetze; editing by Thomas Seythal

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