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Home Industry News Galloway brand to be acquired

Galloway brand to be acquired

4th February 2008

NeutraHealth subsidiary Brunel Healthcare is to acquire the Gerard House and Galloway brands from Potters.

This purchase includes seven product licences. The two brands made total sales of £270,000 last year.

Galloways manufactures an eponymous herbal cough syrup and Gerard House is responsible for a number of herbal products such as Slimmers Aid and Somnus.

Brunel Healthcare has purchased the two for £400,000 which it will fund through existing cash resources.

Michael Toxvaerd, NeutraHealth chief executive, said the move will be good for Brunel and allow the company to build on a successful 2007.

“Sales remain strong across the group despite the current economic conditions and we expect the acquisition of licensed products to further strengthen Brunel’s position as a leading supplier,” he added.

NeutraHealth acquired Brunel a year ago for an initial £4 million, with the promise of a further £1.9 million in cash to be paid if the company achieved anticipated growth.

Late last year, it was announced that Brunel had exceeded those expectations and that if the whole year results show they have already been met, the earn-out will be brought forward but reduced to £1.5 million.

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