Swedencare AB acquires Irish company to boost global expansion
Swedencare AB, the manufacturer of ProDen PlaqueOff Animal, has acquired the Irish animal healthcare company ‘NutriScience’, a subsidiary of Ecuphar Ltd.
The acquisition will give Swedencare an extensive product portfolio in the dog, cat and the equine segments, a production facility in Ireland and a vast global distribution network.
Swedencare reached an agreement to acquire NutriScience, and from 16 November 2016. NutriScience is a fully-owned subsidiary to Swedencare AB.
“The acquisition give us a product portfolio to cater for dogs, cats and horses. The acquisition also provides Swedencare with a production facility that will contribute to streamlining production and logistics for our current products. To put it short, we will take a major step in becoming a global animal healthcare company,” said Håkan Lagerberg, CEO, Swedencare AB.
The acquisition
NutriScience has been active in the European veterinary market since 1998. The company has developed a product portfolio in five different areas of therapy for dogs, cats and horses.
Swedencare estimates that the acquisition will lead to substantial synergies, mainly the transfer of the UK and Ireland distribution to Swedencare’s subsidiary in the UK. Managing director of Swedencare UK Ltd, John Leonard, added “We are excited about this new expansion, and the benefits this will bring to SwedenCare UK. It’s a great start to 2017!”.
The NutriScience products will be introduced in Swedencare’s distribution network in the veterinary and trade markets in Asia and Europe.
The acquisition will give Swedencare a new, industrial, shareholder in Ecuphar N.V., one of the leading European companies in veterinary medicine. Swedencare and Ecuphar already has a co-operation regarding sales of PlaqueOff in certain markets in Europe and the parties are discussing areas for an extension of the co-operation.
Ecuphar becomes a shareholder of Swedencare
Chris Cardon, CEO, Ecuphar N.V. commented: “We have decided to sell NutriScience to Swedencare so Ecuphar can focus more closely on its core pharmaceutical business and markets. We are happy that the stakeholders of NutriScience will be able to join Swedencare.
“Swedencare’s global distribution network and focus on nutraceuticals are an excellent match with the strengths of the NutriScience team. To give full support to this venture, Ecuphar will become shareholder of Swedencare and where possible we will join forces”.
