Merck Specialities, a subsidiary of German pharma major Merck KGaA, has acquired bioscience firm Bangalore Genei India Pvt Ltd, a division of the Sanmar Group, for an undisclosed sum.
Bangalore Genei makes molecular biological reagents for analytical and genetic engineering research applications. It has over 100 employees working on products for proteomic and genomic research out of its Bangalore centre. The company posted revenue of Rs 20.2 crore in 2008-09.
Christina Shasserre, Global Head of Merck’s bioscience business, said, in a statement, “we will leverage Bangalore Genei’s product portfolio comprising a wide range of bioscience products, which are tailored to the needs of the domestic market in India.”
Merck is a global pharmaceutical and chemical company with total revenues of $11.20 billion in 2008. The Merck family holds around 70% stake in the company while the remaining 30% is with shareholders.
The divestment of Bangalore Genei comes four months after the Chennai-based Sanmar Group—with interests in shipping, specialty chemicals and metals—sold off Intec Polymers to Dorf Ketal for an undisclosed sum. In 2008, the group divested its interest in Asco India and Vishay Sanmar.