BARCELONA, Spain, May 6, 2015 /PRNewswire/ --
The Belgian company acquires ESTEVE's veterinary division and aspires to lead the European market in the segment of animal health in the coming years
Through this alliance ECUPHAR acquires all the assets of Esteve Veterinary and its employees that will join the new organization in the coming weeks. Being both private companies, the economic terms of the transaction have not been disclosed.
Since its foundation in 2002, ECUPHAR has grown through innovation and development of their own proprietary products and through acquisitions or alliances with third parties. Its strategy is to become one of the key players in the segment of animal health in Europe. It currently has a portfolio of more than 130 products both for farm animals as well as for companion animals (pets).
The agreement reached is a perfect fit for both companies. In the words of Chris Cardon, Founder and Chairman of the Board of Directors and CEO of ECUPHAR: "Having no presence in southern Europe, the acquisition of the veterinary division of ESTEVE will allow us to develop our growth strategy both geographically and in other therapeutic areas that will complement our portfolio."
Albert Esteve, CEO of ESTEVE, remarks, "This agreement is a solution for the future of veterinary activity and we are fully convinced that is the best choice from all points of view. ECUPHAR focuses on animal health, and its powerful corporate culture will allow the development of the full potential of the human team of the veterinary division, offering new and better opportunities in its activities so that it can continue to grow in a very competitive and specialized market."
ESTEVE's decision to disinvest in its veterinary division is the result of the implementation of its strategic plan that prioritizes its development and investment in three key areas: human pharmaceuticals, generics and active pharmaceutical ingredients.
Esteve Veterinary (http://www.esteve.com), founded in 1963, is part of the ESTEVE chemical-pharmaceutical group and is one of the leading companies in its sector in Spain. With a turnover of 33 million euro, Esteve Veterinary has a team of 83 people with 53 working in Spain and the rest in its international subsidiaries in Italy, Portugal and Germany.
ECUPHAR (http://www.ecuphar.com) is a company dedicated to the development and commercialization of products for animal health. Since its founding in 2002 it has grown both organically and through acquisitions and strategic alliances, still present today in Belgium, Holland and Germany. ECUPHAR is a private family company. It has a staff consisting of 122 people and a turnover of 43 million Euros.