Veterinary drugs firm Dechra acquires Caledonian for £4.4m
Animal medicine maker Dechra, which has a site in Shropshire, has bought a New Zealand firm for £4.4 million.
Dechra, which has a key operation at Sansaw Business Park near Shrewsbury, has acquired Caledonian Holdings, a supplier to vets specialising in horses.
Caledonian was established in 2010 by a group of entrepreneurial equine veterinarians in New Zealand and Australia.
Over the years it has established itself as an important supplier to equine veterinary practices in New Zealand and Australia, and has delivered additional growth in Hong Kong.
In the year to June 30 2017 Caledonian generated revenue of £1.8 million.
Dechra said Caledonian’s range of proprietary equine drugs will enhance its own existing portfolio, and will establish it 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, the firm added.
Ian Page, Dechra’s CEO, 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.”
Dechra will issue a trading update on October 19.
