Verod Capital has obtained a minority stake in MedPlus, one of Nigeria’s greatest pharmaceutical retail chains, for an undisclosed amount.
Nairametrics became as soon as educated relating to the deal from an educated offer with files of the transaction who most well-preferred anonymity as they weren’t authorized to picture. The provision did no longer additionally picture what percentage of ownership became as soon as obtained from MedPlus.
Every corporations are anticipated to explain legit press releases about this deal in the following few days.
MedPlus became as soon as essentially based by Humorous legend Bakare and commenced operations in 1993 as the first-ever retail pharmaceutical company in Nigeria. It at the 2d boasts 79 retail outlets round the nation and has rapidly expanded its operations in most up-to-date years.
Verod Capital is one of essentially the most active non-public equity corporations in Nigeria with investments in healthcare, insurance, education, agriculture, and heaps others. Verod Capital additionally has a stake in Emzor Prescribed tablets.
That is a growing legend…
Medplus is the pioneer and greatest Nigerian pharmaceutical retail alternate, with about three decades of a hit operations.
Medplus offers a tough product portfolio, retailing a diversity of an necessary treatment, beauty merchandise, and day to day household gadgets, via its e-commerce platform and right via over 79 stores, to a expansive and rising user execrable.
Medplus is a broadly recognised label with a recognition for exact merchandise and educated provider.
About Verod Capital
Verod Capital is a number one African funding management firm that specializes in excessive-boost corporations in Anglophone West Africa, notably Nigeria and Ghana – via its non-public equity funds – and on early-stage tech-enabled corporations in Nigeria and the rest of Africa – via its venture capital fund (Verod-Kepple Africa Ventures).
Verod’s non-public equity arm manages over $360 million in sources and has invested in over 20 middle-market excessive-boost corporations right via 3 funds.
Verod’s non-public equity funds invest in heaps of industries including user merchandise and services, education, agriculture, financial, and alternate services with investments ranging from US$10 million to US$25 million.
The venture capital fund specializes in investments in FinTech, EdTech, Logistics, and HealthTech with investments ranging from US$150,000 to US$7.5 million.