Listed animal life sciences firm SeQuent Scientific has acquired 100% stake in Brazil-based Nourrie Saúde e Nutrição Animal Ltd for $5 million (Rs 36.2 crore), via its wholly-owned subsidiary Alivira Animal Health Ltd.
Last year on December 16, SeQuent announced it had inked a definitive pact for the acquisition, as a part of the platform’s advanced strategy to boost Alivira’s footprint in Brazil’s pet market.
Brazil has the world’s fourth largest pet market with an estimated market size of BRL 1.8 billion, growing annually at 16%.
Nourrie, which is focused on pet and swine with a portfolio of nutraceuticals and therapeutic products, claimed it had an annualized turnover of BRL 13.4 million and through the buyout Alivira will have access to the portfolio of 23 commercialised products.
The addition has nearly doubled Alivira’s product portfolio
for commercialization in Brazil. Nourrie also brings a strong pipeline of 20 products under development, 12 of which are planned for launch in the next fiscal.
The company was incorporated on October 31, 2020.
The acquisition also provides Alivira complete control over the value-chain of Transuin, a Ractopamine based swine product currently manufactured at Nourrie, which is at present the 3rd largest product in Alivira Brazil’s portfolio.
With access to Alivira’s own API manufactured in the USFDA approved plant in India’s Vizag and extension of product range with upcoming registration approvals, Alivira intends to fast-track growth for Transuin franchise in both Brazil and other Latam markets, the firm said in a statement.
The expansion of swine and poultry segment will be further catalysed with nearly 5 new product launches expected in the near term.
Consequent to the oversight of Alivira management, Nourrie’s pet business outlook has been promising, with monthly revenues having grown by over 50% in February 2022, compared to those at the time of acquisition announcement in December 2021.
Alivira already has an established track-record of performance in Brazil, with the local operations growing 5-fold at a CAGR of 57% over last 5 years. Brazil has emerged as the third largest market for Alivira, next only to Spain and Turkey.
In September 2020, SeQuent Scientific announced taking the full control of one of its Turkey-based veterinary products subsidiary Provet.
Private equity giant Carlyle had taken control over SeQuent Scientific in one of its biggest Indian bets worth over $210 million when it agreed to acquire 74% stake.