Phibro Completes Acquisition of Zoetis' Additive Business for $350M
Deal News | Nov 04, 2024 | Legal Community Italy
Phibro Animal Health Corporation has finalized the acquisition of Zoetis' feed additives business for approximately $350 million. The transaction included the transfer of the entire share capital of Zoetis Medolla Manufacturing in Italy and Zoetis Suzhou Manufacturing in the United States to Phibro. The acquisition was facilitated through legal advisory from Chiomenti, in collaboration with Kirkland & Ellis, providing support to Phibro on Italian legal matters. Salvo Arena led the Chiomenti team, with assistance from managing associate Michelangelo Granato and associate Francesca Zimmardi. Zoetis received legal counsel from Wachtell Lipton Rosen & Katz. This strategic acquisition underscores Phibro's commitment to expanding its presence in the animal health and feed additives market.
Sectors
- Animal Health and Nutrition
- Legal Services
- Pharmaceuticals
Geography
- Italy – Zoetis Medolla Manufacturing, one of the entities being acquired, is based in Italy, and Italian legal firm Chiomenti played a crucial role in advising Phibro.
- United States – Phibro Animal Health Corporation and Zoetis Suzhou Manufacturing are both based in the United States, making it a key geographic area relevant to the transaction.
Industry
- Animal Health and Nutrition – The article revolves around the acquisition of feed additives businesses, which are a part of the animal health and nutrition industry.
- Legal Services – The involvement of legal advisory firms such as Chiomenti and Wachtell Lipton Rosen & Katz highlights the significance of legal services in this transaction.
- Pharmaceuticals – Zoetis, a company involved in the transaction, is notable in the pharmaceutical industry, specifically focusing on animal health.
Financials
- $350 million – The purchase price Phibro paid for the Zoetis feed additives business.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Phibro Animal Health Corporation | Acquirer | Company | Phibro is a global leader in animal health and nutrition, acquiring the feed additives business from Zoetis. |
| Zoetis | Seller | Company | Zoetis is a pharmaceutical company specializing in the animal health industry, selling its feed additives division to Phibro. |
| Zoetis Medolla Manufacturing | Target Company | Company | An Italian-based manufacturing arm of Zoetis involved in the acquisition. |
| Zoetis Suzhou Manufacturing | Target Company | Company | A U.S.-based manufacturing division of Zoetis involved in the acquisition. |
| Chiomenti | Legal Advisor | Company | Italy-based law firm advising Phibro on Italian legal matters for this transaction. |
| Kirkland & Ellis | Legal Advisor | Company | Global law firm that collaborated with Chiomenti in advising Phibro on this deal. |
| Wachtell Lipton Rosen & Katz | Legal Advisor | Company | Law firm representing Zoetis in the sale of its feed additives business. |