London-based private equity firm CapVest Partners has announced a deal to acquire a majority stake, around 70%, in STADA Arzneimittel AG, the German generic drugs and consumer healthcare manufacturer, in a transaction valuing the entire company at approximately €10 billion.

This buyout, which was agreed in September 2025 and expected to close by early 2026 pending regulatory approvals, ranks as one of the largest European takeover deals of the year, and notably the largest leveraged buyout in Europe in 2025. The transaction will propel CapVest to the major league of private equity, as it is by far their biggest known acquisition.

STADA is a leading European pharmaceuticals company specializing in generic prescription drugs, over-the-counter consumer health products, and specialty pharmaceuticals. The company generated roughly €4 billion in revenue in 2024, reflecting its growth into a diversified global healthcare platform.

For the second half of 2025, STADA was getting ready for a possible IPO, with the initial plans being put on hold due to market volatility. But the CapVest transaction took the lead in the end, offering an instant exit to the current owners and putting a stop to those plans of a public listing.