(Boursier.com) — Virbac climbs 1.8% to 340 euros after finalizing the acquisition of the Japanese company Sasaeah, the agreement for which was announced last month. Sasaeah generates annual revenues of around 75 million euros, of which around 50% comes from vaccines. Virbac will benefit from Sasaeah’s production sites in Japan and Vietnam, its R&D capabilities as well as more than 500 employees. The group will thus be propelled to the rank of major player in animal health in Japan.
As highlighted by TP ICAP Midcap (‘keep’), the target must contribute to the topline dynamic since it offers a new market, new production capacities, commercial development potential and, to operational leverage, through commercial synergies than industrial.
Portzamparc, for its part, welcomes the operation and is targeting a price of 388.3 euros while remaining a purchase on the file.
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