November 25, 2003
French Animal Feed Company Provimi Announced Acquisition of India's Unichem's Animal Health Division
French animal feed company Provimi announced acquisition of the Indian pharmaceutical company Unichem Laboratories Ltd's animal health division Agvet Unichem, as reported on November 24, 2003.
No financial details were disclosed.
The acquisition clauses provide for Provimi to manage Agvet brands, commercial assets, distribution networks, as well as employees. The acquisition is part of Provimi's expansion and production diversification plan, the company's management said.
Despite a low average productivity per cow, India is the largest milk producer in the world with an estimated annual milk production of around 90 million tons.
The company's management also said that Provimi Indian subsidiary Vetcare, which annually generates 16 million euro ($19.1 million), was mainly poultry focused, while Agvet concentrates upon products, aimed at dairy cows. Agvet annually generates a 2.0 million euro ($2.4 million) turnover. Provimi will manage the 40 Agvet employees.