Dechra has signed a conditional acquisition agreement to acquire the European animal health companies AST Farma and Le Vet.
AST Farma is one of the leading companion animal pharmaceutical companies in the Netherlands, while Le Vet is mostly focused on European markets outside the Netherlands. Working together, the firms have developed a strong portfolio of products and hold approximately 90 product registrations between them.
“Dechra has agreed a deal to purchase the European animal health companies AST Farma and Le Vet.“
This takeover deal, valued at EUR 340 million (GBP 301.4 million), will strengthen Dechra's European portfolio and provide the company with new opportunities through a direct-to-vet model, as well as access to a broad portfolio and pipeline of products.
It is expected that the deal will close later this month, and will deliver benefits in the form of revenue synergies when it is completed.
Ian Page, chief executive officer of Dechra, said: "The acquisition is a rare opportunity to strengthen our EU segment in all the major European countries in which we operate. AST Farma and Le Vet have been a primary target for a number of years."
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