Veterinary drugs maker Dechra finalises purchase of Brazilian firm
Animal medicine maker Dechra, which has a site in Shropshire, has completed the £37.8 million acquisition of a fellow animal drugs maker in Brazil.
The firm, which has a key operation at Sansaw Business Park near Shrewsbury, agreed to buy Laboratorios Vencofarma do Brasil Ltda in October.
Venco has a large portfolio of vaccines and food-producing-animal products, which it sells predominantly within Brazil, with a small presence in other South American and international markets.
It also has a small range of companion animal products vaccines and pharmaceuticals.
Dechra said the acquisition provides it with a strategically significant presence within the rapidly growing Brazilian and South American markets.
Looking ahead, it said it intends to invest heavily in Venco over the next two to three years to develop the business and its presence in South America.
The company also plans to establish the Dechra brand in the region.
"We are delighted to complete on the Venco acquisition, enabling Dechra to establish a key new footprint in the rapidly expanding South American markets," said Dechra chief executive Ian Page.
"We are pleased to welcome the Venco team to Dechra, to begin the integration process and our additional investment in this rapidly growing market."
Meanwhile, Dechra has also announced with effect from February 1, Lisa Bright will take up a new position as a non-executive director of the company.
Lisa is currently president International, and previously chief commercial and corporate affairs officer of Intercept Pharmaceuticals, Inc, a global biopharmaceutical company focused on the development and commercialisation of novel therapeutics.
Commenting on the appointment Tony Rice, chairman of Dechra Pharmaceuticals, said: "On behalf of the Board and all stakeholders I am delighted to welcome Lisa to Dechra.
"She brings significant healthcare sector experience and strong inter-personal skills which will be invaluable as we continue our international expansion strategy and develop our employee engagement interaction."
Dechra intends to announce a trading update for the six months to the end of December on January 14.
