Tilman has partnered with Whitestone, allowing for a significant investment aimed at expanding its international presence and enhancing production capabilities in the herbal medicine sector.

Target Information

For the first time in its history, Belgian herbal medicine leader Tilman has welcomed an external shareholder, the Walloon-listed holding company Whitestone. Based in Baillonville (Somme-Leuze), Namur province, Tilman specializes in treatments derived from plants, their extracts, and natural active ingredients. Known for products such as plantain-based syrups, thyme lozenges, eucalyptus nasal sprays, and herbal teas, the company has experienced continuous growth since its inception in the back of a pharmacy in Durbuy in 1956.

Under the leadership of Jean-Noël Tilman since 1985 and supported by his two eldest sons, Manoël and Mikaël, the company saw its consolidated revenue reach approximately 60 million euros last year, bolstered by nearly 280 employees and an extensive product range of around 80 references, including Biolys, Sedistress, and Flexofytol. However, a significant shift in ownership structure is now underway with Whitestone's investment.

Industry Overview

The herbal medicine industry in Belgium has become increasingly prominent, particularly as consumers seek natural alternatives to conventional treatments. This trend has been amplified by a rising awareness of hea