Ceva reports acquisition of Sogeval

Ceva Animal Health has signed an agreement with oilseed and proteins giant Sofiproteol, under which it will acquire the firm's veterinary pharmaceutical subsidiary Sogeval.

Under the terms of the buyout, Sofiproteol will retain control over Sogeval's Biosecurity and Nutrition arm, though international development of this business will be handled partly by Ceva.

Meanwhile, the latter intends to harness Sogeval's proficiencies in the companion animals sector with a view to creating "one of the world leaders in veterinary pharmacy".

In particular, the new subsidiary's know-how in antibiotherapy and dermatology are expected to complement Ceva's line in antiparasitics and animal behaviour products.

The two firms will also pool their respective distribution networks in order to improve their standing on international markets, as well as sharing their expertise in antibiotherapy, vaccines and products for the control of reproduction in livestock.

Jose Daoudal, currently chief executive officer of Sogeval, will become the chairman of the firm within the Ceva Group and remain deputy managing director of the Animal Division at Sofiproteol.