Ultrapar Enters Pharmacy Business

Ultrapar Enters Pharmacy Business

Brazil M&A

Brazilian fuel and petrochemicals company Ultrapar Participacoes has agreed to acquire Imifarma Produtos Farmaceuticos for BRL1.01bn ($455m), it says, providing an entrance into the pharmaceutical products sector. The transaction includes Ultrapar assuming BRL106m in debt, and paying the remainder via 16.03m of its shares, equal 2.9% of Ultrapar. The buyer hopes to sell Imifarma’s Extrapharma brand products at its service stations, it says. The target has 186 retail locations in the Northern and

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