Bulgaria’s Huvepharma to Get Three Plants in U.S. from Zoetis in USD 40M Deal
U.S.-based animal health company Zoetis has said it will offload three manufacturing plants in the country to Bulgaria-headquartered Huvepharma for USD 40M and undisclosed “additional considerations” as part of a cost-cutting programme.
Zoetis said in a filing with the U.S. Securities and Echange Commission on Tuesday that it had signed an agreement with Huvepharma for the divestment of its manufacturing sites in Laurinburg, North Carolina, and Longmont, Colorado.
Under the deal, Huvepharma will also assume the assets and operations and - subject to approval from the lessor - the lease of a Zoetis manufacturing and distribution operation in Van Buren, Arkansas, according to the filing.
Huvepharma will also acquire a portfolio of products, most of which are associated with the three plants. These products include medicated feed additives, water soluble therapeutics and nutritionals for livestock sold in the United States and international markets.
The deal is expected to close in the first quarter of 2016, Zoetis said.
- » Bulgarian Farmers are Preparing to Protest over Changes in Farmland Law
- » Bulgarian Sauvignon Blanc Received an International Award
- » Bulgarian Farmers will Receive an Additional BGN 700,000 for Insurances
- » Turkey will Produce its Own Vehicle
- » Ukraine and Bulgaria will Build an International Road
- » Power Distributors in Bulgaria Seek 8% - 20% Increase in Prices of Electricity