Ceva Acquires Sogeval23 December 2013
FRANCE - By the terms of an agreement signed in Laval, Sogeval, a subsidiary of Sofiprotéol, joins veterinary firm Ceva Santé Animale with a view to creating one of the world leaders in veterinary pharmacy.
Further to exclusive negotiations, Sofiprotéol and Ceva have finalised an agreement for the takeover of Sogeval by the Libourne-based Group on 20 December 2013.
Sogeval thus becomes a subsidiary of Ceva Santé Animale, thereby consolidating the worldwide market presence of the new Group.
Under the agreement signed between the parties, Sogeval’s Biosecurity and Nutrition business will remain in the Sofiprotéol Group which intends to step up its activities in this area. International development of this business will be handled partly through the Ceva Group’s worldwide network, however.
The aim of the takeover is very much to go on the offensive, mobilising all the staff in both companies to accelerate the growth of the new Group and achieve its worldwide ambitions.
Ceva and Sogeval have developed expertise in anti-biotherapy, vaccines and products for the control of reproduction in livestock.
Ceva and Sogeval will pool their respective distribution networks and subsidiaries to boost positions on all their markets.
José Daoudal, currently Sogeval CEO, will remain Deputy Managing Director of the Animal Division at Sofiprotéol and Chairman of Sogeval within the Ceva Group.
One of his missions will be to foster partnerships between Sofiprotéol and Ceva, in particular in Research & Development and ensure the proper integration of Sogeval within the group.
The companies’ close complementarity and shared values have considerably facilitated relations between their teams, meaning that they will be operational and in fighting order right from the start of 2014, at the service of their clients.
Sofiprotéol may participate in the future pool and become a minority investor in the new group as part of the upcoming LBO in which Ceva management – the Group’s majority shareholders – will choose their new financial partners.
Such a stake would be an opportunity for Sofiprotéol to support the management of Ceva while maintaining a foothold in the animal health sector.
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