Dechra completes acquisition of Brazil's Venco
Dechra Pharmaceuticals confirmed the completion of the acquisition of the entire share capital of Laboratórios Vencofarma do Brasil (Venco), based in Londrina , Brazil on Tuesday,.
The FTSE 250 company initially announced its acquisition plans on 19 October, for total consideration or BRR 185m (£37.8m).
It said Venco had a “large portfolio” of vaccines and other food-producing animal products (FAP), which it sold predominantly within Brazil, with a small but increasing presence in other South American and international markets.
Venco also had a small range of companion animal product (CAP) vaccines and pharmaceuticals, which were sold primarily on the Brazilian market.
Overall, it had more than 200 current product registrations.
Brazil was the fourth biggest FAP market in the world, Dechra’s board noted, with vaccines the fastest-growing therapeutic area within FAP globally.
The acquisition provided Dechra with a “strategically significant” presence within the rapidly-growing Brazilian and South American markets, the board explained.
Dechra said it would invest significantly over the next two to three years to develop the business and its presence in South America, would continue to develop the existing Venco pipeline and registrations, register relevant Dechra products, and establish the Dechra brand in the region.
“We are delighted to complete on the Venco acquisition, enabling Dechra to establish a key new footprint in the rapidly expanding South American markets,” said chief executive officer Ian Page.
“We are pleased to welcome the Venco team to Dechra, to begin the integration process and our additional investment in this rapidly growing market.”