Virbac: Aquaculture - Virbac completes the acquisition of Centrovet
November 05 2021 - 3:14AM
Virbac: Aquaculture - Virbac completes the acquisition of Centrovet
Virbac announces the
acquisition of the remaining minority shares of the
Centrovet group
We announce that we have bought 34% of the
shares of the Centrovet group, thus increasing our stake to
100%.
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."
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. 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
healthAt Virbac, we make innovative solutions available to
veterinarians, farmers and animal owners in more than 100 countries
around the world. Covering more than 50 species, our range of
products and services can diagnose, prevent and treat the majority
of pathologies. Every day, we are committed to improving the
quality of life of animals and to shaping the future of animal
health together.
Virbac: NYSE Euronext - compartment A – ISIN
code: FR0000031577/SYMBOL: VIRPFinancial Affairs Department: tel.
04 92 08 71 32 - email: finances@virbac.com - Website:
corporate.virbac.com
- Virbac Centrovet November 2021
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