The New York Times reported today that the Irish-based drug maker Perrigo have agreed to acquire Omega Pharma one of the largest providers of over-the-counter health care products in Europe, for about $4.5 billion.
The Belgian company Omega Pharma are of course the main sponsor of one of the biggest cycling teams in the world. The team includes Tom Boonen and Mark Cavendish amongst other top riders.
Omega, which was founded in 1987 and is based in Nazareth, Belgium, has operations in 35 countries and employs about 2,500 people. It posted revenue of €1.2 billion in 2013. It was founded by Marc Coucke and he will continue to own a stake in the combined company after the deal.
It is unclear as to whether this acquisition will affect the future sponsorship of the cycling team.