Zenex Animal Health complete acquisition of Sava Healthcare

Zenex Animal Health India , one of India’s leading animal health companies backed by Multiples Alternate Asset Management, announced the acquisition of the companion animal business operating under the SAVAVET brand from SAVA Healthcare Limited (“SAVA Healthcare”).

The acquisition marks Zenex’s third strategic acquisition since partnering with Multiples and represents another significant milestone in its journey to build one of India’s most comprehensive animal healthcare platforms. Following the acquisitions of Ayurvet and VievePharm, the addition of SAVAVET further expands Zenex’s presence across companion animal healthcare and strengthens its diversified portfolio spanning livestock, poultry, companion animals, herbal healthcare and international markets.

Bringing SAVAVET into the Zenex family reinforces the platform across three key strategic fronts:

Scaling India’s companion animal franchise: SAVAVET is among India’s leading companion animal healthcare businesses, with a portfolio of approximately 70 brands spanning parasiticides, antibiotics, cardiac care, pain management, dermatology and wellness, distributed through a network of approximately 165 stockists and relationships with over 6,000 veterinarians nationwide.

Complementary brands and distribution: The acquisition combines SAVAVET’s established brands, veterinary relationships and specialist commercial capabilities with Zenex’s product development, distribution and integration expertise, creating a scaled platform positioned to address the evolving healthcare needs of companion animals in India.

Capturing a high-growth market: Companion animal healthcare is one of the fastest-growing segments of India’s animal health market, driven by rising pet ownership, growing awareness of preventive care and increased spending on animal wellness.

Dr. Arun Atrey, Managing Director, Zenex Animal Health, said, “Companion animal healthcare is one of the fastest-growing segments of animal health in India, and SAVAVET brings Zenex immediate scale through its strong portfolio, established market presence and network of over 6,000 veterinarians. Following the acquisitions of Ayurvet and VievePharm, this transaction is another important step in Zenex’s strategy of building one of India’s most comprehensive animal healthcare platforms.”

Manish Gaur, Managing Director, Multiples Alternate Asset Management, said: Multiples partnered with Zenex with a clear vision of building a scaled, diversified and innovation-led animal healthcare company. With its expanding portfolio, strong brands and presence across livestock, poultry and companion animal healthcare, Zenex is building one of India’s most comprehensive animal healthcare platforms. The addition of SAVAVET further strengthens that foundation and reinforces Zenex’s ability to serve the evolving needs of veterinarians, farmers, and pet parents across the country.”

Vinod R. Jadhav, Founder and Non-Executive Chairman, SAVA Healthcare Limited, said: “Over the past decade, our companion animal business has been built through the dedication of our people and the trust of veterinarians, pet parents and channel partners. We are proud of the business and the brands we have created. We believe Zenex, with its animal health expertise and commercial reach, is well placed to lead the business into its next phase of growth.”

Karthik Rajan, Chief Executive Officer, SAVA Healthcare Limited, said: “Completing this divestment allows SAVA Healthcare to focus management attention on human health formulations, pharmaceutical research and development, contract manufacturing and international business. We retain our farm animal business and will continue manufacturing agreed products for Zenex & other veterinary companies in India and Abroad under contract manufacturing arrangements. We thank the teams on both sides for bringing the transaction to completion.”

Ernst & Young LLP acted as financial advisor to Zenex on the transaction. Cyril Amarchand Mangaldas acted as legal counsel to Zenex. PwC acted as the exclusive transaction advisor to SAVA Healthcare. Legalogic acted as legal counsel to SAVA Healthcare

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