Drug major Sun Pharmaceutical Industries on Friday, March 24, said it will acquire a 60 percent stake in Vivaldis Health And Foods Private Ltd from its existing shareholders for Rs 143.30 crore.
The remaining 40 percent stake will be acquired in the future as per certain terms and conditions, the company said in an exchange filing.
According to Sun Pharmaceutical, Vivaldis is engaged in the business of trading, distributing, manufacturing, and marketing of drugs, food supplements and over-the-counter products in the companion animal segment of the animal healthcare industry.
Incorporated on January 31, 2014, Vivaldis is a private limited company incorporated under the Companies Act, 2013, with its registered office in Pune.
For FY 2021-22, the revenue of Vivaldis stood at Rs 29.92 core, FY 2020-21 at Rs 20.54 crore, and 2019-20 at Rs 13.80 crore. Vivaldis' revenue has grown at a CAGR (compound annual growth rate) of 47 percent in the FY 19-20 to FY 21-22 period.
(Edited by : Shoma Bhattacharjee)
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