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Karo Bio acquires Allevo

agreement

Karo Bio acquires Allevo rights from Cederroth for SEK 60 mln.

The company acquires rights to weight control product range Allevo from Cederroth for some 60 million Swedish crowns ($7 million). According to reuters Allevo yearly revenues is 62 million crowns. In order to finance the acquisition Karo Bio will use a short-term credit corresponding to the purchase price. Long-term financing will be presented early next year.