OREANDA-NEWS. April 06, 2012. The Renova group of companies has signed a deal to sell OTC pharmaceuticals company Natur Produkt International to international pharmaceuticals company headquartered in Canada Valeant Pharmaceuticals International, Renova said in a press release.

The deal is worth USD 180 million and that could increase by USD 5 million if Natur Produkt International achieves the agreed revenue growth indicators by the time the deal is concluded.

The company posted net revenue of USD 65 million in 2011.

"The business of Natur Produkt is a portfolio investment for the Renova group. It was very important for us not to transfer the company not to any buyer but to a strategic investor with unique international experience of project development in the sector and with the ability to take Natur Produkt to a new level of development," the release cites Natur Produkt International Board Chairman and Renova M&A Director Maxim Mayorets.

The company considers the deal to be a very successful one both for Renova and Valeant Pharmaceuticals, he said. The deal should be finalized in the next 6 months, he added.

Natur Produkt International was founded in 1993. It is part of the Natur Produkt group of companies. Renova took over management of the company in September 2009. The company specializes in the manufacture and distribution of OTC pharmaceuticals, supplements and health foods.