FRANCE - IK recapitalises CEVA Santé Animale

Since the acquisition of CEVA in September 2003, CEVA’s turnover has increased by almost 50%, its EBITDA has doubled and it has achieved solid organic growth.

The company has also completed five significant add-on acquisitions which have enhanced its topline growth and operational performance, whilst complementing its product offering both in terms of therapeutics and species. The purchases include: Kemia, a leading independent Mexican veterinary laboratory, Laprovet, a French independent animal health company, Dogu, the former Turkish animal health subsidiary of Sanofi Synthelabo, Biomune, a US producer of bird flu vaccines and MDB, a South African producer of animal health products. IK and CEVA’s management team have also improved the company’s product mix and gross margins by focusing on companion animals and biologicals. Its supply chain has been strengthened through the recruitment of a new manager. Finally, a complexity reduction programme has been initiated for the product portfolio which has improved commercial resources allocation.

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