Pharmgate to acquire assets of Pennfield Animal Health
Acquisition is expected to be completed before 2015
Pharmgate LLC has entered an agreement to acquire Pennfield Animal Health. This acquisition is expected to establish Pharmgate as a key supplier of finished medicated feed additive and water soluble products to the United States, Canadian, Mexican and Latin American livestock and poultry markets.
The acquisition is expected to be completed before the end of 2014.
Pharmgate will acquire the current operations in Omaha, Nebraska, which includes office buildings, a manufacturing facility, warehouses and the entire manufacturing, laboratory, finance, customer service, sales and marketing workforce. This will significantly enhance Pharmgate’s expanding product portfolio which now includes the in-feed and water soluble Pennchlor, Pennox and combination products.
Colin Gray, Pharmgate's president, said: “The deal provides an opportunity for Pharmgate to fast track our objective of establishing a North American presence. After introducing Pharmgate’s branded chlortetracycline in the Canadian and Latin American markets, the chance to acquire a well-established and reputable product line in the United States permitted a rapid and sizable growth opportunity. We are excited that this acquisition, along with the seasoned and expert workforce, will drive and streamline our development pipeline projects. The acquisition provides a strong base from which to continue our growth in the medicated feed additive and water soluble product sectors.”