Carr's buys animal health products maker Animax for up to £8.5m

21st Sep 2018 09:46

(Sharecast News) - Agricultural and engineering group Carr's has announced the acquisition of Suffolk-based animal health products maker Animax for up to £8.5m in cash.Established in 1982, Animax specialises in the research, development and manufacture of highly effective animal health products. Carr's said it's at the forefront of innovation in the field of livestock trace element supplementation.The company's patent-protected leaching boluses, currently sold in the UK and overseas under the Tracesure and Allsure brands, are specifically designed to deliver health benefits to livestock consistently over prolonged periods.Animax also produces other leading health and trace element supplementation products sold under well-known brands including Copasure, Copinox, Coprac, Easycal, Pardevit and Paracide.Carr's said the acquisition will enhance its position in the global health and livestock supplementation markets and bring innovation and patent-protected technology together.In addition, there will be clear synergies with the established Carr's feed block business across the US, New Zealand, Europe, the UK and Ireland.As part of the deal, Carr's is also buying Animax's related party, Clinimax, which manufactures specialist disinfectant products for use in the medical industry and which also carry the benefit of patent-protection.Chief executive Tim Davies said: "We are delighted to announce the acquisition of Animax. 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. 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."At 0940 BST, the shares were up 1.3% to 151p.