Zoetis To Acquire PHARMAQ - Quick Facts

(RTTNews) - Zoetis Inc. (ZTS) announced an agreement to purchase PHARMAQ, the global leader in vaccines and innovation for health products in aquaculture, for a price of $765 million on a debt-free basis. Zoetis is purchasing PHARMAQ from a company owned by Permira IV, a fund managed by the global investment firm Permira, which has been the majority owner of the company since 2013.

Privately-held PHARMAQ is based in Oslo, Norway, and has subsidiaries in Chile, the United Kingdom, Vietnam, Spain, Turkey, Panama, and Hong Kong. PHARMAQ has approximately 200 employees. The company's products are marketed in Europe, North and South America, and Asia.

Zoetis said the deal strengthens its core livestock business, giving the company a market-leading presence in the fastest growing segment of the animal health industry. Zoetis expects the transaction to be neutral to adjusted earnings in 2016 and become accretive to adjusted earnings thereafter.