New Jersey-based Merck Animal Health has completed the purchase of Elanco Animal Health’s aqua business for $1.3 billion (€1.1B) in cash. The aqua business brought in $175 million (€161.2M) in revenue for Elanco in 2023.
The divestment deal, announced earlier in the year, enables Elanco to focus on “high-value opportunities” in pet health and livestock sustainability, reduce its debts and gain “balance sheet flexibility” to drive long-term value.
“The proceeds from this transaction, combined with increased free cash flow from our operations, accelerate our deleveraging and position us to deliver substantial value over time,” says Todd Young, Elanco’s Executive Vice President and CFO.
For Merck, the acquisition bolsters its positioning in the aqua industry, providing a comprehensive portfolio targeted at promoting fish health, welfare and sustainability.
The latest articles
Data reveals shifting trends in UK pet products and brands
GlobalPETS analyses a market report on the popularity of pet products and brands in the British pet industry.
Analysis: a new life for food waste in pet food?
Experimental projects in India, Australia and Germany are turning food scraps, meat waste and fungi into pet food.
Hong Kong government celebrates e-commerce shopping festival
Pet care retailers participated in the event to enhance their penetration into Mainland China, the world’s largest e-commerce market.
Weekly newsletter to stay up-to-date
Discover what’s happening in the pet industry. Get the must-read stories and insights in your inbox.