Mexico firm acquired by Dechra for £4.2m
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INTERNATIONAL veterinary pharmaceutical specialist Dechra has acquired 100% of the share capital of Laboratorios Brovel, based in Mexico City, for £4.2m.
Brovel is a family-owned business with more than 52 years’ experience in the production and distribution of pharmaceutical veterinary products. It has a diverse product portfolio with a turnover of £2.6m.
Northwich, Cheshire-based Dechra’s company’s latest conquest has been announced alongside a strong performance in the second half of 2015 with revenue up 15% at constant exchange rate (CER).
Dechra’s performance was more modest excluding its recent Croatia acquisition, Genera, with growth at 11% CER.
Revenue growth in EU Pharmaceuticals, excluding Genera, remains solid at 4% at CER, but continues to be impacted by exchange rate headwinds, with a 3% decline at actual exchange rate (AER).
However, Dechra’s performance in North America continues to impress with revenue growth at 51% (CER) and 57% (AER).
This has been helped by Zycortal, a novel canine endocrine product for the treatment of Addison’s disease, which has now received approval in both the EU and the USA.
Following the Genera acquisitions, together with the investment in the US expansion, Dechra to report a net debt balance as at December 31.
Chief executive Ian Page said: “This is an exciting time for Dechra as we continue to grow organically, launch new products and move into new territories through acquisitions.
“As a result of our focus on and execution of our strategy, we are delivering a strong first half performance. With Group trading in line with management expectations for the 2016 financial year, we remain confident in our future prospects.”