William Ransom sells off Italian business assets

William Ransom has moved to improve the profitability of its overall business with the sale of certain business assets in Italy.

The pharmacy supplier is to receive around 45,000 pounds for assets and liabilities currently owned by its Optima Italia subsidiary, which saw losses during the fiscal year ending March 2009.

They will be transferred to Optima Naturals, a new company formed by Optima Italia’s current manager and which will act as a William Ransom distributor in several territories moving forward.

Ivor Harrison, chief executive of William Ransom, explained that this deal will work in favour of the firm and its stakeholders by helping it to return to profitability in this sector.

He added: “The disposal is consistent with the company’s desire to exit unprofitable business and to create a sustainably-focused, higher margin, differentiated natural consumer healthcare business.”

Last month, the company announced that shareholder and former executive director Fred Whitcomb has returned to its board of directors in a non-executive role.