2021/09/13 - Financial public releases
Aquaculture : Virbac strengthens its position in Centrovet
Virbac announces the acquisition of additional shares in the Centrovet group.
We announce that we have bought 15% of the shares of the Centrovet group, thus increasing our stake to 66%, while retaining the possibility of subsequently acquiring all or part of the remaining shares.
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 (Chile being the world's second largest producer of salmon). 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."
The consideration paid for the acquisition of this stake is US $17.7 million, paid in full and in cash upon closing. 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.