Exel, the global leader in supply chain management, has announced that it has acquired Sociedade de Distribuio e Logstica, Lda (SODILOG), a Portuguese pharmaceutical logistics provider. Based in Lisbon, SODILOG enables Exel to extend its healthcare logistics services in the fast growing Portuguese market and provide a comprehensive Iberian healthcare logistics solution to its customers.
Exel will be acquiring the business for an undisclosed consideration with net assets below 1m. The acquisition is expected to be underlying earnings enhancing in its first full year.
Exel has established a leading, global healthcare business through organic growth and selected strategic acquisitions and over the last few years has experienced significant market growth as customers look to maximise the benefit of fast, efficient and secure supply chains.
SODILOG is a growing operation with recent expansion into larger premises, providing temperature controlled storage and distribution. Customers include leading pharmaceutical and healthcare companies who have used the business for their high operational standards and compliance with all relevant pharmaceutical regulations.
Graham Inglis, President of Exel's Healthcare sector, commented, "The acquisition of SODILOG builds on our successful growth strategy across the globe and combined with recent acquisitions in Australia, Brazil, Turkey, Belgium and Italy, and will accelerate our growth opportunities in Iberia and across continental Europe."
Mr Jorge Abrantes, General Manager of SODILOG, commented, "All at SODILOG are very pleased to become part of Exel and to now be able to offer our customers, new scale, geographical reach and expanded range of services."