Hyderabad-based Vivimed Labs is close to acquiring two speciality chemical companies in the US and Europe.It will pay $40 million for the European company and $25 million for the other.
Vivimed will acquire only the brands, intellectual property and customers of the company. Manufacturing assets and employees will remain in the parent company. The European company is expected to add over 10% to the revenues in the first year of operations. Vivimed will integrate the company with its Indian operations by shifting manufacturing to the country.
Read more in The DNA Money article.
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