API Sells House to Global Retail (Australia)
This article was originally published in PharmAsia News
Australian pharmaceutical distributor and pharmacy operator Australian Pharmaceutical Industries (API) has sold its homeware "House" brand for $8.5 million as part of its goal to focus on the pharmacy, health, and beauty businesses. API CEO Stephen Roche says API is focusing on these core businesses in Australia as part of "our strategic plan to build the leading pharmacy, health and beauty presence by 2010/2011." API also plans to sell its Price Attack haircare brand as part of its shedding of non-core assets. API sold its homewares operation to retail group Global Retail Brands. (Click here for more
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