Animalcare expands in Europe with Ecuphar merger deal

Animalcare has agreed to acquire Belgium-based Ecuphar in a reverse takeover deal valued at 134.6 million pounds.

Ecuphar, which was formerly known as Cardon Pharmaceuticals, has existed in one form or another since 1996, and provides animal health products sold in most of Europe's leading territories.

The reverse takeover deal will lead to the creation of an enlarged Group with direct veterinary sales into seven countries across Europe, as well as export activity spanning around 50 markets worldwide.

Chris Cardon, the current boss of Ecuphar, will become chief executive officer of the new-look company, while his Animalcare counterpart Iain Menneer will serve as chief operating officer.

In a statement, Animalcare expressed confidence that the deal "will create a growing, highly cash-generative, dividend-paying pan-European animal health company with a solid pipeline of new products under development".

Animalcare has offered a wide range of animal health products – including microchips, pharmaceuticals, pet welfare products and practice equipment – since 1988. This deal will significantly expand its international reach.

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