Cosmos Holdings, Inc. Acquires Cosmofarm Ltd.
February 14 2019 - 8:00AM
InvestorsHub NewsWire
Chicago, IL -- February 13, 2019 -- InvestorsHub NewsWire --
Cosmos Holdings, Inc. (OTCQB:
COSM), an international pharmaceutical company, announced the
closing of its acquisition of Cosmofarm Ltd (“Cosmofarm”), a
privately held company located in Athens, Greece.
Founded in 1994, Cosmofarm is a fully licensed pharmaceutical
wholesale company operating in the greater Athens area. The company
is approved and authorized by the National Organization for
Medicines under Good Distribution Practices to distribute a
comprehensive range of pharmaceutical products. Cosmofarm’s core
activity is sourcing, procuring and distributing branded and
generic medicines, over-the-counter (OTC) pharmaceuticals, food
supplements, and medical devices to its growing network of more
than 1130 pharmacies. The company maintains a vast supplier network
of approximately 250 pharmaceutical manufacturers and wholesalers
and had sales of about $14 million in FY2017. More
information is available a www.cosmofarm.gr.
“We are excited to announce the closing of this acquisition and
to have Cosmofarm’s talented team become part of Cosmos Holdings,”
Cosmos Holdings CEO Gregory Siokas commented. “Cosmofarm is a
rapidly growing wholesaler that shares our values of innovation and
high-quality distribution. To accommodate its growing operations,
the company is relocating to a new 32,000 sq. feet facility that
features a fully integrated robotic fulfillment center powered by
ROWA® and offers 20 times the capacity of the old
warehouse. Cosmofarm will play a key role in increasing sales of
our SkyPremium Life product line to pharmacies.”
About Cosmos Holdings, Inc.
Cosmos Holdings Inc. is a pharmaceutical wholesaler with offices
and warehouses in Thessaloniki, Greece and in Harlow, UK. The
Company has a trans-European network of over 160 clients and
vendors which expands to 16 countries including: Germany, United
Kingdom, Ireland, United Arab Emirates, Denmark, Italy, France,
Singapore, Spain, Lebanon, Skopje, Jordan, Sweden, Poland,
Netherlands, and Greece. More information is available at
www.cosmosholdingsinc.com.
FORWARD LOOKING STATEMENTS
Except for historical information, this news release contains
forward-looking statements, within the meaning of Section 27A of
the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. These statements involve unknown risks, and
uncertainties that may cause the Company's actual results or
outcomes to be materially different from those anticipated and
discussed herein. Important factors that might cause such
differences are discussed in the Company's filings with the
Securities and Exchange Commission. The Company disclaims any
intention or obligation to update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise. Actual results could differ materially from those
anticipated in these forward-looking statements, if new information
becomes available in the future.
Investor Relations Contact
Steve Carr
312-780-7211 / scarr@dresnerco.com