Dechra completes takeover of Eurovet Animal Health

Dechra has announced the completion of its takeover of Eurovet Animal Health, the pharmaceutical business of AUV Holding.

The 135 million euro (108.33 million pounds) transaction was finalised earlier this week, thus completing a deal that was announced last month and is forecast to help Dechra progress towards its strategic growth objectives.

Eurovet is a veterinary pharmaceuticals business based in The Netherlands that sells products for both the domestic and farm animal markets, with sales for 2011 coming to 76.8 million euros.

It has sales and marketing operations in The Netherlands, Germany, Belgium, Denmark and the UK, and supplies partners in more than 40 countries internationally.

Dechra's group chief executive Ian Page said: "By bringing Eurovet to the group we will strengthen our European presence, increase our product portfolio, improve our manufacturing capabilities and strengthen our management team."

During the three months ending March 31st 2012, Dechra saw a 9.9 percent year-on-year increase in group revenue.