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Bulgarian Aquachim Formally Acquired by German Giant Merck

Date: 04.11.2009

Merck KGaA, the German pharmaceutical and chemical giant, announced Monday that it has acquired Merck the products related operations of Aquachim Ltd.

Aquachim had successfully represented Merck as its exclusive distributor in Bulgaria for the past 17 years.

The acquisition process, covering the majority of overall Aquachim’s turnover, has now been completed. One month ago, as reported by Novinite.com, the Bulgarian Commission for Protection of Competition (CPC) had approved the planned takeover.

Aquachim will continue to develop its remaining business interests in the fields of laboratory equipment and diagnostics, as well as logistics, education and analytic controls.

Merck has now established the fully operational Company of the Merck Group (CMG) under the name Merck EAD, as its first such company in Bulgaria. It will focus on its core businesses related to pharmaceuticals and chemicals.

Stefan Slosarik, who has extensive experience with Merck’s businesses in Central Eastern Europe, will assume responsibility for the operations of the new Bulgarian subsidiary.

“Speaking on behalf of the management of Merck KGaA, I would like to express our gratitude to Professor Velikov, to Aquachim’s director Kamelia Tzankova and to the entire staff for their valuable contribution to the business growth over the years,” said Stefan Slosarik

Professor Dr. Borislav Velikov, founder of Aquachim, has agreed to serve as an advisor to the new Merck subsidiary. Moreover, Aquachim will continue to support Merck EAD by providing warehousing and logistics services as well as office space. Merck is retaining the entire Aquachim staff of 36 employees.

The Merck Group is a global pharmaceutical and chemical company based in Darmstadt, Germany, with total revenues of EUR 7,6 B in 2008, a history that began in 1668, and a future shaped by about 33 000 employees in 60 countries.

Aquachim is a Bulgarian company founded in 1992 by associate Professor. Dr. B. Velikov. Starting from zero, it quickly grew on fully professional basis and obtained significant market recognition. In 2008 Aquachim attained total revenues of EUR 15 M.

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