SeQuent Scientific’s subsidiary Alivira Animal Health (Alivira) has signed a definitive agreement to acquire majority stake in Karizoo Group, Spain, one of the leading animal health groups in Spain and European markets. The transaction is subject to customary closing conditions and is expected to close by July 2016.
Alivira would acquire 60% stake in the family held Vila Vina Particpacions (VVP) which owns Karizoo Spain, Phytosolutions Spain, Covivet Spain and Karizoo Mexico. The existing promoters will continue to hold the balance 40% stake. The acquisition will be made through Alivira Ireland, a wholly owned subsidiary of the company.
This acquisition makes Alivira a significant player in the Global Animal health space with annualized revenues in excess of $120 million. Alivira will now account for over 2/3rd of SeQuent revenues with formulations business accounting for over 75% of Alivira business.
