Animal health company Zenex India Pvt. on Thursday said it has acquired Ayurvet Ltd. from the Burman family for an undisclosed sum.
The deal will help Zenex strengthen its portfolio of offerings by adding herbals and furthering the quality of its overall animal health portfolio globally, as per a statement.
Ayurvet has R&D and new product capabilities, robust brands, complementary geographic access, and a completely built out management and sales team, that complements Zenex's existing capabilities, as per the statement.
"As part of Zenex's long-term value creation journey, we will continue to seek interesting opportunities to bring companies with complementary capabilities into our fold, and scale them on the back of Zenex's entrenched sales and distribution network," Zenex's Chairperson Renuka Ramnath said.
"We are confident in the management of Zenex, that the vision with which I started Ayurvet, and the legacy built over the past 31 years, will be carried forward," Ayurvet's Founder Pradip Burman said.
Zenex is backed by Ramnath's Multiples PE, CPP Investments, RARE Enterprises, SBI, ADB, IFC, and some high net worth individuals.
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