Bulgaria’s Huvepharma Set to Acquire Turkish Manufacturer of Veterinary DrugsBusiness | March 9, 2015, Monday // 12:40| views
Bulgarian pharmaceutical company Huvepharma, owned by businessmen Kiril Domuschiev and Georgi Domuschiev, has made an offer to purchase Turkish ANC Animal Nutrition Center, a veterinary drugs manufacturer and trader.
The offer involves the purchase of 100% of the company’s shares, according to reports of Bulgarian business daily Capital Daily based on information of Turkey’s anti-trust watchdog.
The Turkish company duplicates a part of the activities of another company within the Huvepharma group, Biovet.
The price of the deal has not been disclosed.
According to information published on its website, ANC manufactures veterinary drugs for birds and cattle, as well as aquaculture-related medicines.
The company owns a retail network through which it sells its output in Turkey.
The plant is located in the western part of Turkey and has a total headcount of 60 people.
In an interview for Capital Daily, Angel Zhelyazkov, CEO of Biovet, informed that the Bulgarian company sought to expand its business in Turkey by registering new products.
He said that the deal would be financed with the company’s own resources.
The acquisition is to contribute to the better positioning of the Bulgarian company on Turkey’s large and fast-growing market in the sphere because ANC is a popular brand with a well-developed infrastructure.