Brussels, February 5, 2021 – The French-speaking Commercial Court of Brussels yesterday approved the acquisition of eight outlets of the iU chain by Medi-Market Group. This operation also includes the takeover of 33 well-trained employees.
On Thursday, February 4, Medi-Market Group obtained the approval of the French-speaking Commercial Court of Brussels for the acquisition of eight parapharmacies from the company iU (pronounced “you”), which had filed for judicial reorganization proceedings (PRJ) in September 2020. Launched by Multipharma under the name Equiform, this chain of parapharmacies was sold in 2019 to a duo of French businessmen, Jean-François Mallinjoud and Thomas Parias.
Medi-Market Group currently operates 58 parapharmacies (50 in Belgium and Luxembourg, 1 in France, and 7 in Italy), as well as 25 pharmacies and 6 beauty institutes. It is thus adding 8 parapharmacies ideally located in shopping centers or busy commercial streets, such as Woluwé, Westland, and Belle-Étoile shopping centers in Luxembourg.
“This acquisition primarily gives us the opportunity to welcome 33 new, highly skilled and well-trained staff members to our group. It also allows us to acquire ‘ready-to-use’ stores in strategic locations complementary to our network, along with significant inventory, all at an attractive price. Integrating these new stores into our portfolio is quite a challenge but above all a great opportunity!” comments Yvan Verougstraete, founder and CEO of Medi-Market Group.
In a highly uncertain economic context due to the COVID-19 pandemic, Medi-Market Group continues its growth, while focusing its strategy on stabilizing and strengthening its operational systems in 2021.
