Bolt -on Acquisition

RNS Number : 2420D

Dechra Pharmaceuticals PLC

08 October 2018

 

Monday, 8 October 2018

Dechra^® Pharmaceuticals PLC

(Dechra, Group, Company)

Bolt-on Acquisition

The Board of Dechra announces the acquisition of the trade and assets of Caledonian Holdings Ltd. (Caledonian) for a cash consideration of NZD 8.7 million (£4.4m)¹. Revenue in the year to 30 June 2017 was NZD 3.6 million (£1.8m)¹.

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.

Caledonian's range of proprietary equine drugs will enhance our existing portfolio, which includes Osphos^®, and will 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 commented, "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 an Annual General Meeting trading update on 19 October 2018.

Enquiries:
Dechra Pharmaceuticals PLC
Ian Page, Chief Executive Officer	Office:  [phone]
Richard Cotton, Chief Financial Officer e-mail: [e-mail]	Office:  [phone]
TooleyStreet Communications Ltd
Fiona Tooley, Director e-mail: [e-mail]	Mobile: [phone] Office:  [phone]

Note

1)   Translated at NZD 1.9989: GBP 1.0000 (closing rate on 4 October 2018)

About Dechra

Dechra is an international specialist veterinary pharmaceuticals and related products business.  Our expertise is in the development, manufacture and sales and marketing of high quality products exclusively for veterinarians worldwide.  Dechra's business is unique as the majority of its products are used to treat medical conditions for which there is no other effective solution or have a clinical or dosing advantage over competitor products. 

For more information, please visit: www.dechra.com

Stock Code: Full Listing (Pharmaceuticals): DPH

LEI: 213800J4UVB5OWG8VX82

Trademarks

Dechra and the Dechra "D" logo are registered trademarks of Dechra Pharmaceuticals PLC.

Forward Looking Statement

This document may contain certain forward-looking statements.  The forward-looking statements reflect the knowledge and information available to the Company during the preparation and up to the publication of this document.  By their very nature, these statements depend upon circumstances and relate to events that may occur in the future thereby involve a degree of uncertainty.  Therefore, nothing in this document should be construed as a profit forecast by the Company.

 

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