Baker & McKenzie Advises Virbac on its Proposed Acquisition of Veterinary Assets from Pfizer in Australia
Deal Announcement
January 18, 2010
Sydney, Australia, 18 January 2010 – Baker & McKenzie has advised the world's largest independent animal healthcare company, Virbac of France, on its proposed acquisition from Pfizer Inc. of veterinary products and related assets, including a manufacturing facility, in Australia. The agreement was announced on 12 January 2010. The value of the transaction remains undisclosed.
Virbac was advised by Baker & McKenzie M&A Partner Ben McLaughlin. In addition to the acquisition, Baker & McKenzie represented Virbac on the extensive negotiation of a number of manufacturing and supply arrangements, and IP licensing, between Virbac and Pfizer, Wyeth, Fort Dodge, and other affiliates.
The transaction is subject to the approval of the Australian Competition and Consumer Commission.
Commenting on the transaction, Partner Ben McLaughlin said "This has been a very interesting transaction, being a Government-mandated divestiture on a short timeframe. Virbac and Pfizer are both key players in the animal health sector. We are pleased to have advised Virbac on this transaction, which is strategically important and allows our client to better service the needs of its customers in Australia. It is another example of the strength and depth of Baker & McKenzie's M&A practice. We congratulate the Virbac team on reaching this stage and look forward to working with them to finalise the acquisition."