New Delhi, Mar 31 (UNI) RFCL Ltd, an ICICI Venture company, has made its first global acquisition in the veterinary healthcare space through a share purchase agreement with Marsing and Co Ltd for its German subsidiary, Bremer Pharma.
The agreement is for transfer of all key people, assets, brands, the name Bremer Pharma and all contracts, including exports, a company statement said.
RFCL will gain a marketing foothold in the city of Bremerhaven, near Hamburg and German manufacturing base with a processing capacity of nearly 6,63,000 litres of liquids per annum per shift, about 1,032 tonnes of solids per annum per shift and 1.5 million vials of Sterile solutions per annum per shift.
Close on the heels of Alved's acquisition in January 2008, this initiative will propel RFCL's Animal Healthcare business under the SBU, Vetnex, onto the global map, the statement added.
RFCL's Animal Healthcare business under Vetnex will achieve a turnover of Rs 90 crore for FY 08, registering a growth of almost 22 per cent over the previous year, which is in line with the company's objective to aim for double the market growth for all of its businesses.
Combined with sales revenue of Bremer Pharma and Alved, RFCL's veterinary product portfolio will be in excess of Rs 160 crore and will be amongst the Top 25 global integrated veterinary healthcare players by 2009.
''This acquisition will give us a strategic platform to enter the European and West Asia markets. We look forward to working with the management, marketing and production teams at Bremer to seize the worldwide growth opportunity in integrated veterinary healthcare,'' said RFCL Ltd Managing Director Sushil Mehta.
RFCL is stepping up its effort by dedicating suitable resources to build manufacturing capabilities, research and development strengths, an integrated logistics and supply chain network and also developing diverse talent for embarking on quantum growth opportunities through organic and inorganic initiatives.
The sellers intend to divest the animal health business and concentrate on their core business of active pharmaceuticals ingredients.
Bremer Pharma works in the fields of research, manufacturing and supplying veterinary medical preparations including powders, tablets, solutions, suspensions and injectables for over 26 years, through a worldwide distribution network. It has 803 global registrations across Europe, West Asia, Asia and Africa.
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