PE firm Carlyle-backed SeQuent Scientific has acquired 100% stake in Brazil-based Nourrie Saúde e Nutrição Animal Ltd for $5 million (Rs 36.2 crore), via its wholly-owned subsidiary Alivira Animal Health.
On December 16, SeQuent announced it had inked a definitive pact for the acquisition, as a part of the platform’s advanced strategy to boost Alivira’s footprint in Brazil’s pet market.
Brazil has the world’s fourth largest pet market with estimated market size of BRL 1.8 billion, growing annually at 16%.
The addition of Nourrie’s business has nearly doubled the product portfolio available to Alivira for commercialization in Brazil, with additions in both the nutraceutical and therapeutic product categories. Nourrie also brings a strong pipeline of 20 products under development, 12 of which are planned for launch in the next fiscal.
The acquisition provides Alivira complete control over the value-chain of Transuin, a Ractopamine based swine product currently manufactured at Nourrie, which is at present the third largest product in Alivira Brazil’s portfolio.
With access to Alivira’s own API manufactured in the USFDA approved plant in Visakhapatnam, India and extension of product range with upcoming registration approvals, Alivira intends to fast-track growth for Transuin franchise in both Brazil and other Latam markets, the company said in a statement.
The expansion of the swine and poultry segment will be further catalysed with nearly 5 new product launches expected in the near term.
Consequent to the oversight of Alivira management, Nourrie’s pet business outlook has been promising, with monthly revenues having grown by over 50% in February 2022, compared to those at the time of acquisition announcement in December 2021.
Alivira already has an established track-record of performance in Brazil, with the local operations growing 5-fold at a CAGR of 57% over the last 5 years. Brazil has emerged as the third largest market for Alivira, next only to Spain and Turkey.
Private equity giant Carlyle owns 74% stake in Sequent.
