‘I’m off to play golf with my wife’ – Chanelle founder Michael Burke on €300m sale

The Galway native said almost 30 bidders tabled an offer for his company over a sales process that lasted almost two years

Michael Burke, whose company Chanelle Pharma is believed to generate yearly profits of around €25 million, has decided to retire and sell it on. Picture: Michael Dillon

Michael Burke, the founder and chief executive of Chanelle Pharma, said the “time was right” to sell his business after he agreed a deal last week believed to be in the region of €300 million to sell the Loughrea-headquartered generic drugs manufacturer.

Speaking to the Business Post, Burke said he has “absolutely no regrets” after reaching a deal to sell Ireland’s largest indigenous manufacturer of generic pharmaceuticals for animal and human health, to Exponent, the ...