PARIS, FRANCE: Virbac, an animal health pharmaceutical company, has bought 34% of the shares of the Centrovet group, thus increasing its stake to 100%.
The consideration paid for the acquisition of this stake is US $43.7 million, paid in full and in cash upon closing, to which will be added, if applicable, an additional consideration subject to the fulfillment of conditions and which will be less than 10% of the purchase price.
Sébastien Huron, chief executive officer, Virbac group: “With this acquisition, we are consolidating our position in this promising market and strategic aquaculture segment for our Group. Centrovet, thanks to its industrial footprint and R&D infrastructures, gives us a real competitive advantage in the Chilean aquaculture industry.
With a highly engaged team, we have the ambition to further bring innovative products and solutions to the local market and to search for additional synergies on the R&D and manufacturing sides between the cold and warm-water fish segments. Centrovet had been founded in 1979 by the Farcas family who, as sole or major shareholder, developed it during more than 30 years with a strong entrepreneurial spirit.
Since the creation of the joint venture in 2012, they remained actively involved in the development of the company, until now.”
As previously mentioned, this transaction will have limited impact on the financial statements of our Group, other than the disbursement of the price paid, insofar as Centrovet’s activity has been consolidated at 100% since the acquisition of the majority stake of 51% on November 23, 2012.
A lifelong commitment to animal health
Virbac makes innovative solutions available to veterinarians, farmers and animal owners in more than 100 countries around the world.