Leading French veterinary drug company Sogeval has purchased York-based Alstoe Ltd Animal Health.
Established in 1994, Alstoe is an independent supplier of animal healthcare products for pets and livestock based in Sheriff Hutton. The company’s portfolio includes two market leading products: Vetergesic for the control of post operative pain in cats and dogs; and Gleptosil for prevention of anaemia in piglets.
The acquisition of Alstoe, for an undisclosed sum, allows Sogeval to continue its international growth strategy in the UK market. The deal completed on 29 January with Christian Hunt, corporate partner at Leeds law firm Clarion, and Richard Feltham, corporate finance partner at Garbutt and Elliot, advising the vendors. The Paris office of Travers Smith advised Sogeval.
Located in Laval, France, Sogeval develops, produces and markets veterinary products for pets and livestock under its own brands and for third parties. It sells its products worldwide across a distribution network in 60 countries and has two subsidiaries in Denmark and the USA. Sogeval is a subsidiary of the animal division of Sofiproteol Group, a leading agri-food company which achieved sales of 7 billion euros in 2012 and employs 8,000 people in 14 countries.
José Daoudal, president of Sogeval, commented:
The acquisition of Alstoe Animal Health is a major step in the international growth ambition of Sogeval and will allow Sogeval to continue its international growth strategy in the UK market, one of the most important in Europe.
Ian Ryder, director of Alstoe Animal Health, said: “The acquisition is the culmination of over four years of co-operation between the companies that has seen substantial growth of Sogeval products in the UK and Vetergesic in France.”
Fellow director John Nellis added:
It’s business as usual with the UK and Ireland operations continuing from Alstoe’s York base for the foreseeable future.
Christian Hunt of Clarion commented:
Having worked with John and Ian for a number of years, it’s great to see their hard work being recognised and a successful Yorkshire business joining one of the leading international veterinary drug companies.
Richard Feltham of Garbutt & Elliott added:
Alstoe Animal Health is a great example of a well-run niche Yorkshire business bucking the economic trend and proving very attractive to an overseas buyer. We are delighted to have assisted John and Ian in achieving a successful exit.