Transaction Summary

  • PromoFarma ( – the leading managed e-commerce marketplace for consumer health, beauty and personal care products commonly sold in pharmacies in Spain
  • The deal is expected to close in mid-September 2018, financial details of the transaction were not disclosed
  • With the acquisition Zur Rose Group ( is pursuing the internationalization of its business and builds up tech capabilities in Barcelona
  • Operating under the Zur Rose and DocMorris brands, the Swiss-based Zur Rose Group is Europe’s leading online pharmacy and one of Switzerland’s foremost wholesale suppliers to medical doctors. Zur Rose Group AG’s shares are traded on SIX Swiss Exchange
  • PromoFarma brings the leading market position in Spain and a springboard for international expansion, both cross-border and country-by-country, with a capital-efficient business mode

Overview of PromoFarma

  • PromoFarma has built and operates a managed e-commerce marketplace that connects consumers to
    health, beauty and personal care vendors, most of them pharmacies

    • The business has more than 50,000 consumer health products listed on its platform and sells
      products from more than 3,500 brands which are sourced and shipped by more than 500 partners,
      mainly pharmacies, but also pharmaceutical companies and health stores
    • During 2018, PromoFarma has started its international expansion and already serves 20 countries
      across Europe with its cross-border e-commerce business
    • The overall market for this largely unregulated goods segment is worth some €8 billion in Spain and
      €100 billion at European level
  • In 2017, PromoFarma generated turnover (GMV) of nearly €19 million, a 50% increase from 2016
  • Founded in 2012 with headquarters in Barcelona; currently has around 60 employees led by David Masó
    and Adrià Carulla (co-founders)

NOAH Advisors’ Role

  • NOAH Advisors acted as exclusive financial advisor to PromoFarma and its shareholders
  • David Masó presented PromoFarma on the NOAH London 2017 startup stage