Zoetis sells feed additive portfolio to Phibro
Zoetis and Phibro Animal Health Corporation announced that they have entered into a definitive agreement where Phibro Animal Health will acquire Zoetis’ medicated feed additive product portfolio, certain water soluble products and related assets for $350 million, subject to customary closing adjustments. This transaction is expected to be complete in the second half of calendar year 2024.The product portfolio is comprised of more than 37 product lines that are sold in approximately 80 countries and generated approximately $400 million in revenue in 2023.
Six manufacturing sites are also included in the agreement, including 4 sites in the US, and 1 each in Italy and China.According to Zoetis, more than 300 of its employees in manufacturing, distribution and commercial activities are expected to transition to Phibro Animal Health.
