FRANCE - OFI portfolio company announces two new acquisitions

The company has signed an exclusive agreement to acquire the porcine division of Gènes diffusion, a specialist in the genetics and reproduction of horses, cows, pigs and rabbits. The acquisition is part of a broader cooperation agreement between the two businesses that is intended to lead to the development of new animal insemination applications. IMV has also signed an exclusive agreement to to acquire the insemination glove activities of Italy-based CIE PLAST, which is expected to increase tunover by around EUR 1m.

In May this year IMV, which is 73% owned by OFI PRivate Equity Capital, completed the acquisitions of Cyro'Vet, Pig Ins and Bio Vet, which are expected to realise an additional EUR 4.4m of turnover, with the company already having generated revenues of EUR 38.4m for the fiscal year ending June 2007. IMV has now completed three further acquisitions this year, which combined will provide additional turnover of EUR 10m.

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• Topics
• Expansion
• France