On April 3rd, Vetoquinol (Paris:VETO) signed an agreement to acquire Clarion Biociências, a Brazilian veterinary laboratory based in the state of Goiás.
This acquisition will allow Vetoquinol to strengthen its foothold in Brazil, primarily in the cattle segment, and capitalize on Clarion Biociências' expertise, particularly in parasiticides.
Founded in 1998, this Brazilian company employs around 180 people and has a state-of-the-art production facility. It is currently one of the top 20 players in the Brazilian market.
Vetoquinol CEO Matthieu Frechin said: "We are delighted to have signed this agreement, which is fully in line with our In Motion strategic plan. Brazil is the third largest animal health market in the world and this acquisition will help further our plans to strengthen our foothold on this market."
Vetoquinol expects to close the deal over the coming weeks.
Next update: Q1 2019 sales, April 17, 2019 after market close
Vetoquinol is a leading global player in the animal health sector with a presence in Europe, the Americas and the Asia-Pacific region.
As an independent pure player, Vetoquinol designs, develops and sells veterinary drugs and non-medicinal products intended for the livestock (cattle and pigs) and for pet (dogs and cats) markets.
Since its foundation in 1933, Vetoquinol has pursued a strategy combining innovation with geographical diversification. The Group's hybrid growth is driven by the reinforcement of its product portfolio coupled with acquisitions in high potential growth markets. Vetoquinol employs 2,132 people as at December 31, 2018.
Vetoquinol has been listed on Euronext Paris since 2006 (symbol: VETO).
For further information, go to: www.vetoquinol.com
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