New Delhi, Feb. 27 -- Animal healthcare-focused company Zenex Animal Health India Pvt Ltd, which is gearing up for a stock market debut, has struck a deal to acquire a Netherlands-based animal nutrition company.
The acquisition marks Multiples PE-backed Zenex's expansion into the market for natural animal nutrition and setting up a dedicated manufacturing and sales hub in Western Europe, according to a statement.
Zenex said on Friday it has picked up a majority stake in Enter, Netherlands-headquartered VievePharm. The company didn't divulge the terms of the transaction.
VievePharm specialises in natural animal nutrition with its phytogenic formulations - or compounds derived from herbs, spices and other plants - for the livestock, equine, and pet care markets. Its manufacturing facility supports more than 60 customers across over 25 countries throughout Europe and other international markets.
The acquisition of VievePharm will strengthen Zenex's naturals portfolio and build on its Ayurvedic portfolio obtained through the acquisition of Ayurvet in 2023.
Zenex noted that the EU's "Farm to Fork" strategy, which sets a target to cut veterinary antibiotic sales by 50% by 2030, will act as a strong tailwind to the combined portfolio.
The acquisition also helps Zenex expand into the Western European market in addition to its footprint in Asia, Africa, and parts of the CIS region, allowing the company to use
VievePharm's distribution network in the EU to accelerate the export of its broader therapeutic and nutritional range across multiple formulation types such as powders and liquids.
"By combining VievePharm's advanced bolus technology and European market access with our R&D depth and global distribution, we are positioned to offer holistic, science-backed solutions that address the root causes of animal health challenges," said Arun Atrey, managing director and CEO of Zenex Animal Health.
PwC advised Zenex on financial diligence and transaction structuring. Cyril Amarchand Mangaldas and Norton Rose Fullbright acted as the domestic and international legal counsel respectively, for Zenex.
Zenex was formed after the Multiples Alternate Asset Management led a consortium of investors to acquire Zydus Cadila's animal health division in 2021. Multiples PE teamed up with Canada Pension Plan Investment Board (CPPIB), the Jhunjhunwala family's RARE Enterprises and other investors to acquire Cadila's animal health business for up to Rs 2,921 crore. However, the investors likely ended up investing around Rs 2,505 crore, regulatory disclosures show.
VCCircle reported late last year that Zenex kickstarted its plan to go public after the PE fund in early 2025 started an informal process for a secondary stake sale. However, the company is still six to seven months away from filing its draft red herring prospectus (DRHP), the report noted.
Published by HT Digital Content Services with permission from VC Circle.