Since June 2023, Global Pharma Group AS (GPG) has been a proud shareholder of nearly 20% of Pharma Norge AS. We are pleased to announce that we have recently reached an agreement with the majority shareholder, Thomas Storvestre, for the acquisition of his shares. This transaction places GPG as the majority shareholder with a 53% ownership stake.
With this strategic shift, Pharma Norge will become an integrated part of the GPG Group from 2023. We look forward to an exciting future, with projected revenue of approximately 160 MNOK in 2024 and plans for further international expansion.
“To ensure a smooth transition and maintain our strong market position, we first and foremost recognize the outstanding operations and success of Pharma Norge. As a well-managed company, Pharma Norge has established itself as a leading player in its field, and our intention is to preserve this strength and autonomy. Pharma Norge will continue to operate as an independent entity.
In this spirit, we are establishing an advisory board composed of leaders from both GPG and Pharma Norge. This board will not only respect and uphold Pharma Norge’s existing management structure and corporate strategy but will also contribute to further growth and innovation. We see this as an opportunity to combine the strengths of both companies while acknowledging and supporting Pharma Norge’s unique identity and expertise.”
Financing & Strategic Vision
The financing of this share acquisition involves a combination of cash payment and conversion into GPG shares. Thomas Storvestre will remain a key figure in our growing organization and will play a significant role in the continued development of our group.
Thomas Storvestre, the former majority shareholder of Pharma Norge, expresses optimism about the new ownership structure:
“With GPG as the new majority shareholder in Pharma Norge, exciting opportunities arise to unlock and leverage valuable synergies between our companies. I am convinced that this will drive accelerated growth and development for both parties. As a significant shareholder in GPG, I look forward to actively contributing to this progress, strengthening our market position, and fostering innovation.”
