Pharmaceutical company swoops for New Zealand-headquartered firm

Veterinary pharmaceutical business Dechra has acquired New Zealand-headquartered Caledonian Holdings for £4.4m. 

The firm, which has its manufacturing base in Skipton, North Yorkshire, and its head office in Northwich, Cheshire, said Caledonian’s range of proprietary equine drugs would enhance its existing portfolio. Caledonian’s revenue in the year to 30 June 2017 was £1.8m.

Caledonian was established in 2010 by a group of entrepreneurial equine veterinarians in New Zealand and Australia. Over the years Caledonian has established itself as an important supplier to equine veterinary practices in New Zealand and Australia and has delivered additional growth in Hong Kong.

Dechra said the bolt-on acquisition would establish Dechra as a leading equine pharmaceutical supplier in both Australia and New Zealand. The acquisition will also enable Dechra to grow its market penetration of equine products in the Asian market.

Ian Page, Dechra’s Chief Executive Officer said: “We are pleased to have acquired the trade and assets of Caledonian which will be integrated into our existing Australian and New Zealand (ANZ) businesses. This will enable Dechra to leverage its position in the ANZ equine market.”