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Dechra agrees £30m deal

Dechra, which is headquartered in Northwich, has struck a deal to acquire a veterinary pharmaceutical company for more than £30m.

The listed company has agreed terms to acquire the business and assets of Apex Laboratories Pty, which manufactures, markets and sells branded non-proprietary prescription and other related companion animal products in Australia and New Zealand, for AUS $55m (£31.3m). The acquisition includes the purchase of Apex’s manufacturing site.

Apex is ultimately controlled by Anthony McGloin who is a descendant of the founder of Apex.

According to Dechra, the acquisition will provide it with direct access to the established and growing Australian companion animal product market. It will also offer a base from which to support and build Dechra’s expansion in the Australasian and Asian regions.

Apex, which was established in 1962, is based in Somersby near Sydney and employs 39 staff.  For the year ended 30 June 2016, its reported revenues were £8.4m and operating profit was £3m. Read more