€40m buyout deal by UniPhar
The parties would not confirm the value of the deal, but industry sources said UniPhar was likely to have paid in the region of 15 times’ profits for the Dublin-based business. The Barry family owned 50% of Whelehan’s and its tea company was part of a consortium that recently splashed out almost €100 million on bean company Batchelor’s.
UniPhar chief executive Jim Canavan said the deal was a perfect fit for both groups and would provide major opportunities for growth and expansion.
