EQS-News: The Platform Group: Intended Acquisition of the AEP Pharma Group with EUR 1 Billion in Profitable Revenue and a New Independent Business Segment

The Platform Group: Intended Acquisition of the AEP Pharma Group with EUR 1 Billion in Profitable Revenue and a New Independent Business Segment

• TPG has been successfully active in the pharmaceutical platform segment since 2021 with ApoNow
• ApoNow is the largest digital interface between local pharmacies and pharmaceutical manufacturers, connecting approx. 41,000 pharmacies across four countries
• Following the acquisition of AEP, the Pharma segment is expected to reach revenues of EUR 1.1 billion
• Establishment of an independent Pharma Group with dedicated management
• Adjustment of the 2026 guidance following closing

Düsseldorf, 26 January 2026. The Platform Group SE & Co. KGaA (ISIN DE000A40ZW88, WKN A40ZW8, “TPG”), a leading software company for platform solutions, today announced the intended acquisition of AEP GmbH, headquartered in Alzenau, Germany. AEP operates a B2B wholesale platform for the pharmaceutical industry, serving several thousand pharmacies across Germany. The sellers are a group of shareholders, with Österreichische Post AG currently being the majority shareholder. The transaction was signed on 26 January 2026. Closing is expected in the second quarter of 2026, subject to antitrust approval and the fulfillment of customary closing conditions. TPG intends to acquire 100% of the shares in AEP GmbH.

AEP is one of the largest pharmaceutical trading companies in Germany, most recently generating revenues of more than EUR 1 billion. The company is profitable and has established itself as a key player in the German pharmaceutical market. AEP currently employs around 250 people, and its central warehouse in Alzenau is among the most modern pharmaceutical logistics centers in Europe. The parties have agreed not to disclose the purchase price.

Dr. Dominik Benner, CEO of The Platform Group: “With AEP, we are taking the next step in expanding and strengthening our strategic positioning in the pharmaceutical sector. We have been active in this field since 2021 and are already connected to more than 39,800 pharmacies in Germany, Austria, Italy and Switzerland. With AEP, we reach a new level of value creation and are increasingly becoming a full-service provider for pharmacies. Our goal is to strengthen local pharmacies, particularly by linking them with the digital activities of our Group.”

Dr. Heike Brockmann, CEO of AEP: “AEP’s mission has always been and remains to be a strong long-term partner for local pharmacies. With The Platform Group, we gain an owner who can provide fresh momentum for additional growth and reach at this important stage. Both companies will benefit from each other’s expertise, ultimately helping local pharmacies further strengthen their essential role in society.”

Pharma Group as an Independent Business Segment
As part of TPG’s strategy update presented on 2 October 2025 in Frankfurt am Main, the Management Board outlined the expansion of the pharmaceutical business (project “Pharma Platform”) and provided further details on the Group’s overall digital pharma platform strategy. In this context, additional acquisitions in the pharmaceutical sector were also announced.

Following the acquisition of AEP, TPG intends to establish the pharmaceutical business as a standalone segment. Going forward, this segment will operate under the name Pharma & Service Goods. In addition, the pharmaceutical activities are to be organized as a fully independent business unit with its own dedicated management team.

Bjoern Minnier, Head of Finance/M&A at The Platform Group: “The combination of our existing pharmaceutical activities will create a dedicated group covering a broad range of highly specialized services. Our objective is to implement a platform-based, digital solution for local pharmacies and international manufacturers. Today, we have reached a major milestone in this journey. In the future, the Pharma Group is expected to generate revenues of well over EUR 1.1 billion and EBITDA of more than EUR 25 million, supported by approximately 320 employees.”

Following the closing of the AEP transaction, TPG intends to bundle its existing pharmaceutical and pharmacy-related activities into a separate organizational unit under a unified group designation. This will include AEP, ApoNow, apothekia, and the Doc.Green platform. For the 2026 financial year, TPG also plans to acquire additional companies in the pharmaceutical platform space and integrate them into the Pharma Group.

Increase in Guidance for the 2026 Financial Year
The newly established Pharma Group is expected to generate revenues exceeding EUR 1.1 billion. Consolidation into TPG’s financial statements will take place from the closing date onward. Assuming closing of the AEP acquisition in the second quarter of 2026 and the required approval by the German Federal Cartel Office. TPG’s outlook for the 2026 financial year would change significantly on a pro forma basis: GMV increase to approx. EUR 3.0 billion (previous guidance: EUR 1.7 billion), revenue: increase to approx. EUR 2.0 billion (previous guidance: EUR 1.0 billion), EBITDA: EUR 90–100 million (previous guidance: EUR 70–80 million), number of partners: more than 25,000 (previous guidance: 18,000). The pro forma figures relate to the financial year 2026 and are presented for comparative purposes only. The expected actual figures for the financial year 2026 will be published by TPG following the completion of the transaction.

Merger Control, Financing and Cash Flow
Due to TPG’s existing activities in pharmaceutical and pharmacy-related services, notification to and approval by the German Federal Cartel Office are required. The filing will cover both the planned consolidation of TPG’s pharmaceutical activities and the acquisition of the AEP Pharma Group. Completion of the merger control process is expected in the second quarter of 2026. In this context, the Management Board of TPG has decided not to proceed with the closing of the previously announced acquisition of Contracta GmbH (Austria), which was communicated on 2 October 2025, in order to avoid potential requirements or restrictions from the antitrust authorities, as Contracta and AEP operate in identical service areas.

The acquisition of the AEP Pharma Group and the establishment of the Pharma Group are integral components of TPG’s long-term growth and financing strategy. The acquisition will be financed on the basis of a clearly defined financing concept, combining internal funds, equity and debt capital. By March 2026, the Management Board intends to establish an adjusted and sustainable financing structure in connection with the acquisition of the AEP Pharma Group. In this context, the Company has resolved on two capital increases excluding subscription rights, comprising a total of 2 million new shares to be placed with long-term investors, resulting in gross proceeds of EUR 9.8 million. Registration in the commercial register is expected to be completed by February 2026.

TPG’s objective remains the sustainable generation of strong operating cash flows. Acquisitions are a core element of the Group’s strategy, with a focus on acquiring profitable companies and integrating them operationally. TPG continues to pursue a conservative financing strategy with clearly defined leverage limits and a broadly diversified financing base consisting of long-term bank loans, equity and an outstanding bond. For the 2025 and 2026 financial years, TPG continues to target a leverage ratio between 1.5 and 2.3 (unchanged). The leverage ratio is defined as adjusted EBITDA in relation to net financial debt (excluding lease liabilities). The planned acquisition of the AEP Pharma Group is expected to remain within this defined financing corridor. At the same time, TPG anticipates a further increase in operating cash flow as a result of the transaction.

Dr. Dominik Benner, CEO of TPG: “Bundling our pharmaceutical activities into an independent business segment is a logical and consistent strategic step. At the same time, we are structuring the financing in a targeted and sustainable manner to position the Pharma Group as a successful and sustainably growing standalone segment. We will create the necessary structural and financial foundations for this over the coming months.”

Webcast / Conference Call
TPG’s management will host an update session tomorrow, 27 January 2026, at 09:30 a.m. CET, covering the preliminary results for 2025, the planned acquisition of the AEP Pharma Group, and further details on the Group’s strategic development. The presentation will be held in English. Please register in advance to participate via the Airtime Platform.

The Platform Group SE & Co. KGaA:
The Platform Group SE & Co. KGaA is a Europe-wide operating software company active in 26 industries through its proprietary platform solutions. The Group’s partner network comprises more than 16,000 partners who use the platform solutions to address both B2B and B2C customers. Industries served include, among others, the luxury portfolio, optics & hearing, furniture retail, machinery trading, dental technology, and electronics. The Group has 19 locations across Europe and is headquartered in Düsseldorf. According to preliminary figures, the Company achieved revenue of EUR 728 million in 2025, with adjusted EBITDA of EUR 55 million.

Contact:
Investor Relations
Nathalie Richert, Head of Investor Relations 
ir@the-platform-group.com
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