SeQuent subsidiary Alivira all set to acquire Turkish Topkim

SeQuent today announced that its subsidiary Alivira Animal Health will acquire Topkim Ilac Premiks San. ve Tic of A.S (Topkim) from Turkey. The acquisition will be made through Provet Veterinary Products, Turkey a subsidiary of Alivira. The transaction has been valued at around USD 7 million.

Topkim is one of the oldest and most reputed manufacturers of Turkey having 50 years of Business presence with over 67 registered products. The company has wide distribution capabilities with a significant presence in almost every sales point at Turkey.

This combined entry of Provet and Topkim in the Turkish market will make Alivira the largest Animal Health company in Turkey. Alivira is expecting to double its business in Turkey with more than 10 per cent market share.

Commenting on the development, Mr. Manish Gupta, Managing Director of Aliviria stated, “As a part of our strategy to create Animal Health care company, we have been working towards establishing strong foot-prints in selected emerging and regulated markets . We recently doubled our business in India and this acquisition now makes us the largest animal health player in Turkey. Both India and Turkey are strong cattle markets. Going forward, you will see Sequent/ Alivira making some further significant strategic moves in this direction.”

Dr Huseyin Aydin, Chairman of Provet said, “We are happy to announce that Topkim is becoming a part of Provet and Alivira. Topkim's product portfolio is complementary to Provet's business and the combined entity will consolidate the Company's market position in Turkey and also benefit from cost synergies. With our EU-GMP compliant facility and the expanded product portfolio, we would also be able to increase our business in global markets.”

Today after the announcement, SeQuent sciences is trading at Rs 937, which is higher by 3.36 per cent on BSE.