The group said it had acquired the entire issued share capital of Animax, which is based in Suffolk, UK.
As part of the acquisition it has also acquired the entire issued share capital of Animax’s related party, Clinimax, a manufacturer of specialist disinfectant products for use in the medical industry.
Both are being acquired for an initial cash consideration of £6m, with an additional cash consideration of up to a maximum of £2.5m payable over the period to November 2020, based on the achievement of agreed financial targets.
Carr’s said that Animax was at the forefront of innovation in the field of livestock trace element supplementation. Its patent-protected Tracesure and Allsure brands were specifically designed to deliver health benefits to livestock over prolonged periods.
Animax also produces other leading animal health and trace element supplementation products sold under well-known brands including Copasure, Copinox, Coprac, Easycal, Pardevit and Paracide.
Carr’s said the acquisition of Animax aligned with the group’s strategy of investing in growing agriculture markets in the UK and internationally.
The company said that Animax and its product ranges would enhance its position in the global animal health and livestock supplementation markets. It would also bring innovation and patent-protected technology to the group together with a number of recognised brands.
Carr’s added that the businesses would benefit from synergies with its feed block business across the US, NZ, Europe, the UK and Ireland. The deal would also broaden its animal health and supplementation product ranges.
Carr’s said it intended to support the growth and development of Animax through investment in research and new products.
“This acquisition is in line with our stated strategy of developing our offering in the growing livestock specialist nutrition market both in the UK and internationally. Animax is highly complementary to our global feed block business and will add value to our customers’ businesses,” said Carr’s chief executive Tim Davies.
“Animax has a history of developing market-leading products based on sound research, with their brands being recognised for their efficacy and performance. The combination of Carr’s resources, knowledge and distribution, together with the Animax research capability, product technology and history of innovation, make a compelling case for this strategic step for the group.”