Sequent Scientific forays into pet segment in Brazil

SeQuent Scientific Limited (SeQuent), having businesses in animal health sector through its principal operating company "Alivira Animal Health Ltd.", signs definitive agreement to acquire 100% stake in Nourrie Saúde e Nutrição Animal Ltda (Nourrie) in Brazil.

In line with its stated strategy for Sequent 2.0, this acquisition marks Alivira's foray into Brazil's pet market, fastest growing segment in Brazil, and 4th largest pet market in the world. The acquisition will be made through Evance Saude Animal Health Ltda (Evance), subsidiary of Alivira Brazil, for a cash consideration of BRL 27 Million, and is expected to close in Q4 FY22.

Nourrie specializes in development and commercialization of nutraceuticals and therapeutic products, with a portfolio of 23 commercialized products for pet and swine, and a near-term pipeline of 17 products. The business is well established with integrated R&D and manufacturing setup, complementary to Alivira's existing local capabilities. The Company also manufactures Transuin, a Ractopamine based product for swine, a key product in Alivira Brazil's portfolio. This transaction also strengthens the global Alivira team with the induction of Dr. Geraldo José Arantes, the erstwhile R&D head of Elanco for Latam region and shall participate in the global R&D program of Alivira.

Since its acquisition in 2016, Alivira Brazil (Evance) has emerged to be amongst Top 10 ranked animal health players in Brazil, having grown significantly at a CAGR of 57% over the last 5 years, achieving revenues of ~BRL 114 Mn TTM Sep 2021. It has established strong presence in livestock segment with a portfolio of 40+ commercialized products.

This transaction further builds on Alivira's strong track record of global acquisitions, having successfully acquired and integrated 9 companies across Europe, Latam and India in the last 7 years.

Shares of Sequent Scientific Limited was last trading in BSE at Rs. 167.00 as compared to the previous close of Rs. 174.65. The total number of shares traded during the day was 282561 in over 3387 trades.

The stock hit an intraday high of Rs. 177.60 and intraday low of 165.70. The net turnover during the day was Rs. 47887449.00.

Source : Equity Bulls

Keywords

SequentScientific INE807F01027 PetMarket Brazil Acquisition