2012/06/25 - Financial public releases
VIRBAC announces the acquisition of all of the shares of STOCKGUARD ANIMAL HEALTH Ltd and STOCKGUARD LABORATORIES (NZ) Ltd (“STOCKGUARD”) in Hamilton, New Zealand.
Through this transaction, which should be closed on July 2nd, 2012, Virbac has acquired all business and assets of STOCKGUARD, including its manufacturing equipment, with an option to further buy the land and buildings currently owned by a separate entity controlled by STOCKGUARD’s owners.
Created in 1987, STOCKGUARD has built up a strong expertise in developing, manufacturing and marketing a range of products for the dairy cattle and sheep markets in New Zealand, in which it enjoys solid leadership positions in intramammaries, injectable antibacterials, reproduction, and vitamin and trace elements. Its current portfolio of new products in development will complement the existing range and further reinforce the company’s position in the market.
STOCKGUARD’s business amounts to around 5M€ in sales with a good profitability.
Virbac is already present in New Zealand through its affiliate, Virbac New Zealand Ltd. This acquisition is very complementary to its existing business in New Zealand and will consolidate Virbac’s n°5 ranking in the country. It will allow a strategic strengthening of Virbac’s position on the important dairy cattle market in New Zealand and will also open further opportunities for future expansion in this segment in the other regions of the world.
From a financial perspective, given the growth and profitability of STOCKGUARD, it is expected that this acquisition will have a positive impact on Virbac’s operating and net earnings.