Under the agreement, Sogeval becomes a subsidiary of Ceva. Sogeval’s Biosecurity and Nutrition business will remain in the Sofiprotéol Group. However, international business development will be handled partially through Ceva’s worldwide network.
“Sogeval is known for high quality products in categories that have a great deal of consumer interest and growth potential. We are eager to move forward with the integration of these complimentary companies,” said Craig Wallace, Chief Executive Officer and North America Zone Director of Ceva Animal Health.
The aim of the acquisition is to accelerate growth. Ceva and Sogeval will pool their respective distribution networks and subsidiaries to boost positions in all markets.
“For now it is business as usual. It will take some time to determine the best route to unite our common interests in a manner that is as seamless as possible for customers. Business conducted with Ceva or Sogeval will continue as it always has for the immediate future,” continued Wallace.
Future operations will be driven by clear complementarities.
- Each of the companies has developed specific know-how for cats and dogs: antibiotherapy and dermatology at Sogeval and antiparasitics and animal behavior for Ceva
- They also share a common global presence in segments such as cardiology and pain management. The acquisition will allow the company to maximize efforts in those categories
- Ceva and Sogeval have developed expertise in antibiotherapy, vaccines and products for the control of reproduction in livestock.
José Daoudal, currently Sogeval CEO, will remain Deputy Managing Director of the Animal Division at Sofiprotéol and Chairman of Sogeval within Ceva. 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.
Sofiprotéol may participate in the future pool and become a minority investor in the new group as part of the upcoming leveraged buyout (LBO) in which Ceva management – the Group’s majority shareholders – will choose 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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About Ceva Santé Animale:
Ceva Animal Health was founded in 1999 and is the world’s 9th-largest veterinary health company, focused on research, development, production and marketing of pharmaceutical products and vaccines for companion animals, livestock, swine and poultry. Thanks to its international presence, its 2012 sales exceeded €600 million. Today, it employs 3,000 people around the world, including 800 in France. Its headquarters are in Libourne, France.
Ceva Chairman and CEO is Marc Prikazsky. Website: www.ceva.com.
Sogeval is a French veterinary pharmaceutical company based in Laval (Mayenne) and a subsidiary of Sofiprotéol. It was created in 1978 and develops, manufactures and markets veterinary products under its own name and for other companies. Its 2012 sales figure was €82.6 million.
Based in the heart of Europe’s biggest agrifood region, Sogeval has grown steadily to become a major player today in the prevention and treatment of animal pathologies.
Sogeval currently employs 291 people, of whom 236 in France. It is chaired by José Daoudal. Website: www.sogeval.fr
Sofiprotéol is an industrial and financial company in the oilseed and proteins sector. Its purpose is to create sustainable value in the oilseed and protein sectors, making a contribution to a better diet for human beings and to protecting the planet. The agribusiness activities of Sofiprotéol are organised in two divisions: the Oilseed Division (crushing and oil refining, oil refining and packaging for food, production of biodiesel, oleochemistry) and the Animal Division, with Glon Sanders (animal nutrition, slaughter and transformation of pig meat and poultry, eggs and finished products). The company also has financial activities as a development bank: in 2012, it provided support via loans and acquisitions of minority stakes in no fewer than 140 companies in the sector, and in agribusiness more generally.
Sofiprotéol recorded 2012 sales of €7.3 billion, of which 21% abroad, and has 8,372 staff in 22 countries. Sofiprotéol is present in particular in Morocco, with Lesieur Cristal, number one in food oil. Website: www.sofiproteol.com.
For Additional Information contact:
Jody Donohue, APR
Communications Manager for North America