Zenex, India’s leading animal health company backed by private equity firm Multiples PE on Thursday said it has acquired Ayurvet – a company founded by Pradip Burman of Dabur India’s promoter family.
The size and financial details of the deal were not disclosed.
Ayurvet, founded as a subsidiary of Dabur India in 1992 and later spun off as an independent entity in 2002, is a leading provider of ayurvedic and herbal medicines, feed supplements and topical treatments for farm and companion animals.
Zenex said the deal would strengthen its portfolio of offerings by adding herbals.
“The acquisition will augment Zenex’s growth, as it operates in a completely complementary space to the company’s current operations,” said Dr. Arun Atrey, MD and CEO of Zenex.
“Further, it will strengthen Zenex’s geographical presence. Ayurvet’s presence in EU (Poland) would aid Zenex Animal Health’s export division to expand its base in the EU region as well,” Atrey added.
Renuka Ramnath, chairperson, Zenex and founder, MD and CEO, Multiples PE said as part of long term value creation Zenex will continue to seek interesting opportunities with complementary capabilities into its fold.
Zenex is backed by a consortium of financial investors led by Renuka Ramnath led Multiples PE, along with CPP Investments, RARE Enterprises, SBI, ADB, IFC, and HNIs.
Zenex acquired Zydus animal health business for Rs.2921 crore in July 2021.