RFCL to acquire Alved Pharma and Foods

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New Delhi, Jan 4 (UNI) RFCL, a wholly-owned veterinary, chemicals and medical diagnostic company of the ICICI Ventures, has signed an agreement with Chennai based Alved Pharma and Foods for a complete acquisition.

The company is the market leader in South India with good institutional and significant export business to West Asia and African markets, the company said in a statement.

The company, however, did not give any financial details of the deal.

''We see significant upsides arising out of the synergies between Vetnex, our veterinary business division and Alved, which will augment the projected growth at a CAGR of 20 per cent plus for the next 4-5 years for a consolidated Animal Healthcare Business,''said MD, RFCL Ltd , Sushil Mehta.

This is the third acquisition in the domestic healthcare market by the company as it aspires to be a major player in overseas regulated market through the inorganic route, the statement added.

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