ORINY - Orion acquires Inovet's animal health business for ~EUR 130M debt free

Orion Corporation (OTCPK:ORINY) to acquire Belgian based Inovet BV and its wholly owned subsidiary V.M.D. NV and all companies belonging to V.M.D. NV’s group of companies for ~EUR 130M debt free. VMD is a veterinary pharmaceuticals company specialised in medicines and health products for livestock. Until the transaction it was a wholly owned subsidiary of the Belgian family-owned private holding company Inovet BV. The companies Biové Laboratoires SAS, Biard SAS, V.M.D. Állatgyógyászati Kft and Inovet Indochine Co., Ltd. are part of VMD. Pursuant to the deal, the 181 employees of VMD will join the Orion Group. Through the deal, Orion’s Animal Health unit will expand its product portfolio and get a foothold in the livestock market, expand its own geographical presence to Western Europe and expand export markets, and gain a production unit that is specialised in manufacturing of veterinary medicines. The addition also supports Orion Group’s growth strategy. The transaction will

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Orion acquires Inovet’s animal health business for ~EUR 130M debt free