Healthcare services group United Drug has bought Dutch contract packaging company Pharma Logistics for a deal that could cost almost €21 million.
Under the terms of the deal United is paying €15.4 million in cash, with a remaining payment of €5.5 million dependent on performance targets over coming three years.
United Drug said Pharma Logistics employs 125 people and that senior management will remain with the company.
Liam FitzGerald, chief executive of United Drug, said the acquisition would significantly enhance its contract packaging capabilities.