ICICI venture firm, RFCL Ltd, today said it will acquire Chennai-based veterinary healthcare firm Alved Pharma and Foods Pvt Ltd for an undisclosed amount.RFCL has signed a definitive share purchase agreement to acquire Alved Pharma, which would see transfer all key people, assets, all contracts including exports and the brand name, the ICICI Venture firm said in a statement.
The company said that this acquisition complements the animal healthcare business of Vetnex, the veterinary wing of RFCL, in terms of product profile and distribution network.Last year, RFCL had acquired Wipro Biomed and Godrej Medical Diagnostics.It expects the animal healthcare business of Vetnex to close at Rs90 crore for FY08, with a growth of 22% over FY07.
Read more in The LIve Mint article.
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