Owens & Minor Agrees to Buy European 3PL Company - Modern Distribution Management

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Owens & Minor Agrees to Buy European 3PL Company

Sales for Owens & Minor increased 2.5 percent in the second quarter.

Owens & Minor, Inc. (NYSE: OMI), Richmond, VA, has agreed to acquire the Movianto Group, a third-party logistics company for the pharmaceutical and medical device industries, from Celesio AG, Stuttgart, Germany, for €130 million (US$158 million).

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Owens & Minor plans to integrate Movianto with its U.S.-based third party logistics service, while keeping the Movianto teams and logistics centers located across Europe intact. Celesio and Owens & Minor also intend to explore mutually beneficial projects in distribution and logistics in the healthcare markets.

For Owens & Minor, the acquisition of Movianto will enable the company to enter the European market with a broad and fully functioning third-party logistics platform. Owens & Minor will assume the customer relationships, the logistics centers and the 1,800 team members across the network of 23 facilities in 11 European countries.

Owens & Minor, Inc. reported sales for the second quarter were $2.19 billion, up 2.5 percent over the same period a year ago. Profit increased 3.1 percent to $30.1 million.

For the six months ended June 30, 2012, sales were $4.4 billion, a year-over-year increase of 3.5 percent. Profit increased 2.8 percent to $59.5 million.

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