Toulouse-based Hygie 31, the holding company behind the Pharmacie Lafayette network, is taking its branded pharmacy model abroad with the acquisition of Spain’s Ecoceutics. This marks its third major acquisition in just a few months.
Hygie 31, the holding company of Lafayette Conseil (headquartered in Toulouse, Haute-Garonne), a network of pharmacies and optical stores, has acquired Barcelona-based Ecoceutis, which comprises 156 pharmacies and generates €200 million in revenue.
Following its acquisition of Cocooncenter in 2021 and its partnership with Pharmacorp earlier this year, Hygie 31, owner of the Pharmacie Lafayette brand, has acquired Ecoceutics, a Spanish pharmacy network.
Ecoceutics operates 156 pharmacies in a Spanish market comprising around 20,000 pharmacies, generating €22 billion in annual revenue and growing by 4% a year.
“We are the first French pharmacy network to expand into Europe. And Spain is only the first step!” says Hervé Jouves, President of Hygie 31.
“Ecoceutics” — a name combining “economics” and “pharmaceutics” — is a well-established brand in Spain. As a result, the Spanish pharmacies will not adopt the “Pharmacie Lafayette” brand, but will instead use the tagline “healthcare for all.”
Hervé Jouves, President of Hygie 31, the holding company behind the Pharmacie Lafayette network, has just completed his third major external growth transaction. Following the acquisition of Cocooncenter, an online parapharmacy retailer, in 2021 and the partnership with Gener+ earlier this year, Hygie 31 — with 700 member pharmacies, 52 optical stores, and 24 medical equipment stores, generating €1.7 billion in revenue — has announced the acquisition of Spanish company Ecoceutics.
156 pharmacies generating €200 million in sales
It is one of Spain’s leading pharmacy groups and one of the country’s major pharmacy brands, with 156 pharmacies generating €200 million in sales. Headquartered in Barcelona, Ecoceutics operates primarily in the Barcelona and Girona regions and the Balearic Islands. The group is owned by 27 pharmacists and employs 18 people.
Through this strategic combination, Toulouse-based Hygie 31 becomes the first French player to expand its model into Europe. “The Spanish market, worth €22 billion, is very similar to the French market, growing by 3% to 4% annually and showing similar growth dynamics. Partnering with Ecoceutics was therefore a natural choice to strengthen our growth momentum. This latest acquisition makes us the first French pharmacy group to establish a presence outside France,” said Hervé Jouves.
By increasing their combined purchasing volumes, the newly formed group aims to negotiate better commercial terms with pharmaceutical laboratories on behalf of its member pharmacists. In addition, Hygie 31 will leverage Ecoceutics’ more advanced IT network infrastructure to accelerate the development of new digital tools.
