Alivira to acquire 60% stake in Karizoo Group
The Dollar Business Bureau
SeQuent Scientific Ltd on Monday announced that its subsidiary Alivira Animal Health Ltd is planning to acquire 60 percent stake in Spain’s Karizoo Group. The company, however, didn’t disclose the transaction amount.
“Alivira Animal Health Ltd would buy 60 percent share in the family-owned Vila Vina Particpacions (VVP), which owns Karizoo Spain, Covivet Spain, Phytosolutions Spain, and Karizoo Mexico,” SeQuent said in a statement.
The remaining 40 percent stake will continue to be held by its existing promoters. The acquisition will be done through Alivira Ireland, a fully-owned arm of the company.
With this latest acquisition, Alivira will become a major player in the global animal health space, with annual revenues above $120 million.
Manish Gupta, Managing Director of Alivira said, “With this deal Alivira gets an EU approved production base and robust R&D capabilities, which our company intends to leverage for our operations worldwide. The operations of Karizoo in Mexico, in addition to the recent acquisition in Brazil, will give us a strong foot-hold in the markets of Latin America.”
Ramon Vila, CEO of VVP said, “The acquisition of Karizoo’s 60 percent stake by Alivira is a vital step for the global expansion of our business. The combined business model of Alivira will improve our company’s competitiveness, leveraging its products to larger markets and enhance our technical capabilities for rapid development of new products.”
Karizoo will support Alivira in building its existing operations in European countries such as the Netherlands, Belgium and Sweden, making the European region the largest for Alivira’s operations, with presence in 15 major markets of Europe.
The European animal health market is likely to touch $12.2 billion by 2020 from the current $9.6 billion. At present, it is the world’s second largest animal health market.