Private equity corp invests in Bulgarian animal health company
Emerging markets private equity investor Citi Venture Capital International is to acquire a 38% stake in Bulgarian animal health company Huvepharma.
The transaction is to involve a primary issuance as well as a stake purchase from controlling shareholders, including Advance Properties, a Bulgarian investment holding company.
Huvepharma is a manufacturer of pharmaceuticals for the livestock market, specialising in the poultry, swine and cattle segments of the market, as well as a producer of nutritional feed additives and niche veterinary products.
The European Union and North America account for 65% of the company's sales.
Sunil Nair, CVCI's head for Europe, Middle East, India and Afrtica, said, "Based on our knowledge of the emerging market specialty pharma landscape, we have been tracking Huvepharma for several years. We believe the company is poised for strong growth, based on a very impressive pipeline of pending product registrations across all the key regulated livestock geographies worldwide.”
CVCI is a subsidiary of alternative asset management platform Citi Capital Advisors, itself an arm of global investment bank Citigroup.
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