Caisse investing in Mexican pharmaceutical company
BY Benefits Canada Staff | August 20, 2019
The Caisse de dépôt et placement du Québec is investing US$500 million in Laboratorios Sanfer, an independent Mexican pharmaceutical company.
The company, which currently maintains a presence in 25 countries, has been focusing on growth through acquisitions for the past two decades, according to a press release. The investment from the Caisse will enable further expansion within Mexico and across Latin America, both organically and through more acquisitions.
“Our partnership with Sanfer is an opportunity for us to grow our exposure to targeted countries in Latin America, while investing in a key sector of these economies,” said Stephane Etroy, executive vice-president and head of private equity at the Caisse.
Sanfer also has an existing relationship with global growth equity firm General Atlantic, which will maintain a significant minority stake in the company. The exact terms of the transaction weren’t disclosed.
“CDPQ shares GA’s long-term vision for the company and we welcome them as partners in this next exciting chapter for Sanfer,” said Martín Escobari, managing director and head of Latin America at General Atlantic.
This article originally appeared on CIR’s companion site, Benefitscanada.com. Read the full story here.