“The process to buy Gerovital took six months, but negotiations lasted one year,” said Farmec Marketing Manager, Ioana Borza. Gerovital Cosmetics sold only the anti-aging brand, not the formula, so Farmec will use its own.
In 2007, Gerovital sold anti-aging products worth €2 mln and the value of exports was €1.8 mln. “We plan to export products worth €4-5 mln in two or three years,” Borzea added, and the company is counting on the latest transaction bringing about a significant rise in the number of customers using Gerovital products. Farmec also plans to enter the Chinese market. The company posted turnover worth €7 mln in the first four months of 2008.
