 "Sequent Scientific arm Alivira buys Turkey-based Topkim for Rs 46 cr")
Alivira Animal Health Limited, a subsidiary of Sequent Scientific Limited, has acquired Topkim Ilac Premiks San ve Tic AS (Topkim), a Turkey-based animal health company, in a transaction valued at Turkish Lira (TL) 20.7 million (approximately $ 7 million or Rs 46 crores). The acquisition will be made through Provet Veterinary Products, Alivira’s Turkish subsidiary.
Topkim, one of the oldest and reputable manufacturer of Turkey, has close to 50 years of business presence with over 67 registered products mainly comprising of ectoparasiticides, endectocides, and injectable antibiotics. It has wide distribution capabilities with presence in almost every sales point at Turkey. The company registered sales of TL 21.8 million with EBITDA of TL 2.6 million in FY2014.
Manish Gupta, managing director of Alivira, commented, stated, “As part of our strategy to create a global animal healthcare company, we have been working towards establishing strong foot-prints in selected emerging and regulated markets. We recently doubled our business in India and this acquisition now makes us the largest animal health player in Turkey. Both India and Turkey are strong cattle markets. Going forward, you will see Sequent/Alivira making some further significant strategic moves in this direction.”
The acquisition will consolidate Alivira’s presence in the $ 400 million Turkish veterinary market, which is growing at around 8 percent year on year, faster than the global industry growth. Turkey is among the top 10 ruminant market and overall the 16th largest veterinary market in the world.
The combined entity (Provet and Topkim) will make Alivira the largest animal health company in Turkey and is expected to double Alivira’s business in Turkey with more than 10 percent market share.
The transaction is expected to close in the third quarter of FY16 and is subject to customary closing conditions.
Topkim, one of the oldest and reputable manufacturer of Turkey, has close to 50 years of business presence with over 67 registered products mainly comprising of ectoparasiticides, endectocides, and injectable antibiotics. It has wide distribution capabilities with presence in almost every sales point at Turkey. The company registered sales of TL 21.8 million with EBITDA of TL 2.6 million in FY2014.
Manish Gupta, managing director of Alivira, commented, stated, “As part of our strategy to create a global animal healthcare company, we have been working towards establishing strong foot-prints in selected emerging and regulated markets. We recently doubled our business in India and this acquisition now makes us the largest animal health player in Turkey. Both India and Turkey are strong cattle markets. Going forward, you will see Sequent/Alivira making some further significant strategic moves in this direction.”
The acquisition will consolidate Alivira’s presence in the $ 400 million Turkish veterinary market, which is growing at around 8 percent year on year, faster than the global industry growth. Turkey is among the top 10 ruminant market and overall the 16th largest veterinary market in the world.
The combined entity (Provet and Topkim) will make Alivira the largest animal health company in Turkey and is expected to double Alivira’s business in Turkey with more than 10 percent market share.
The transaction is expected to close in the third quarter of FY16 and is subject to customary closing conditions.
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