Agostini’s acquires 3 pharmaceutical companies

The content originally appeared on: Trinidad and Tobago Newsday

Christian Mouttet, chairman of Agostini’s Ltd. – Photo courtesy Agostini’s

Pharmaceutical and healthcare company Agostini’s Ltd has acquired three pharmaceutical and wholesale traders: Aventa NV, Aventa Aruba NV and Pharmaceutical Warehousing Inc.

The acquisitions were announced on the TT Stock Exchange’s website on Wednesday.

The notice said all conditions precedent for the acquisition of the three companies were met and the acquisition was completed on June 28.

Aventa NV is a professional warehousing and distribution company that operates in all islands of the Dutch Caribbean, including Curaçao, Aruba, Bonaire, Sint-Maarten, Saba and Sint Eustatius.

Pharmaceutical Warehousing Inc (PWI) is a warehousing company based at the Hato Airport’s Freezone in Curaçao. It was established in 1986 and has been warehousing and distributing to the Caribbean and Central America through third parties.

Aventa and PWI provides warehousing, distribution and logistic services as well as financial, HR, marketing and sales support.

Agostini’s, as well as being in the pharmaceutical and healthcare industry, also supplies fast-moving consumer goods such as stationery, over-the-counter medicines and self-care products through companies such as Superpharm and Smith Robertson. It also operates in the energy industry with companies such as Rosco Procom Ltd, which supplies engineered products to service the oil and gas sector and Agostini Properties Guyana Inc, which rents warehouse space for commercial use.

In 2023, Agostini’s saw a 14.3 per cent increase in sales bring its revenue to $4.7 billion. It also saw a 19.7 per cent increase in profits after tax and an increase in earnings per share by 55 cents, from $2.76 per share in 2022 to $3.31 per share in 2023.