William Ransom announces handover of the Metanium brand

William Ransom has revealed that it will sell its Metanium brand – which is comprised of the ointment products Metanium nappy rash ointment and Metanium cradle cap cream – to fellow pharmacy products provider Thornton and Ross.

Under the terms of the agreement, William Ransom will receive a total of 2.2 million pounds for the brand and approximately 0.2 million pounds for the Metanium inventory.

So far, 0.4 million pounds of the total consideration has been paid and will be released to the firm against the delivery of finished products to Thornton and Ross.

Chief executive of William Ransom Ivor Harrison stated: “The board believes the divestment of Metanium is in the best interests of the company and its stakeholders [and] is consistent with the company’s strategy of creating a focused, natural consumer healthcare offering.”

In December, William Ransom posted its interim financial results for the six months to September 30th 2009, which showed that sales within the firm’s pharmacy products division rose to 4.4 million pounds during the timeframe.