Innovet claims to be one of the leading and most profitable companies within the veterinary segment in Italy.
The purchase price amounts to €50 million ($54.3M), consisting of €42,5 million ($46.2M) in cash and an issue-in-kind of shares in Swedencare representing €7.5 million ($8.1M).
Founded in 1996, Innovet’s portfolio covers therapy areas such as joint, dermatology and pain relief and are offered primarily to the Italian veterinary segment, online and internationally.
According to CEO and co-founder Renato della Valle, this operation “will open many international market opportunities to our innovative science-based products.”
“Innovet and Swedencare share the same philosophy - pets deserve proven products with the highest quality for their wellbeing. We also share the ambition to grow with high profitability, something that is a guarantor for continued improvement in all we do.”
Della Valle is to continue leading the project at the same time that the owner of the Padua-based company – the holding Epinn Srl – will become a shareholder in Swedencare.
