Stada AG completes the acquisition of Huddersfield based pharmaceutical manufacturer, Thornton & Ross Ltd
- Press Release
Following the announcement that STADA AG was in advanced talks to acquire Thornton & Ross Ltd, it has now been announced that the transaction has been completed.
T&R, based in Linthwaite, and in private hands for over 90 years has become one of the leading over-the-counter medicines manufacturers in the UK, and in recent years has also built a sizeable international business.
Many of its leading brands have become household names, including Covonia, Hedrin, Care, Setlers and Zoflora.
Jonathan Thornton, the grandson of one of the founders, Nathan Thornton, has been with the Company for nearly 30 years, the past 12 years as Executive Chairman. Jonathan’s father Ralph had previously been Managing Director for over 20 years.
Thornton & Ross is an important employer in the Huddersfield area, particularly in recent times as its growth accelerated to a turnover of approaching £70M and now employs over 400 people.
Jonathan Thornton spoke of his sadness to be leaving the business after years of family ownership and involvement, but also of his pleasure in leaving it in the capable hands of the existing management and the new owners STADA AG. “Many of the values that are so important to me are also evident within the Stada group, which ultimately was a major factor in making this decision to complete the transaction with Stada”.
“Thornton & Ross and STADA have so much in common, both being pharmaceutical manufacturers with a considerable tradition. We understand how emotional such a change is” the Chairman of STADA Executive Board Hartmut Retzlaff adds. “It’s the outstanding work of its employees and its management that made T&R a perfect match for us. So there is no need for change, everybody will stay onboard. Thornton & Ross will remain Thornton & Ross and will become a STADA centre of excellence for OTC products. Huddersfield will not only be a dot on our map but a most important part of the STADA family”.