₹143.30 crore from its existing shareholders, The remaining 40 per cent shareholding will be acquired in future as per certain terms and conditions, said Sun Pharmaceutical in its regulatory filing. “Sun Pharmaceutical Industries Limited (which includes its subsidiaries and/or associate companies) (“Company") has entered into an agreement to acquire 60% shareholding in Vivaldis Health And Foods Private Limited from its existing shareholders with remaining 40% shareholding to be acquired in future as per certain terms & conditions," said the company.
It will be a cash transaction and is expected to be completed by May 2023. “INR 143.30 crores subject to customary closing adjustments for 60% (sixty percent) shareholding," the company said in its filing.
Vivaldis Health & Foods 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 animal healthcare industry.
The revenue for the financial year 2021-22 was ₹29.92 crores. Recently, Sun Pharma's acquisition of Concert adds a complementary derma product to the existing specialty portfolio.