Their exclusive negotiations resulted in Sofiprotéol and Ceva finalising an agreement providing for the transfer of Sogeval to the Libourne-based group, on 20 December 2013.
Sogeval thus becomes a subsidiary of the Ceva Santé Animale group, consolidating the presence of the new conglomerate in the global market.
The agreement signed between the parties provides for Sogeval’s Biosecurity and Nutritional Specialities activities to remain within the Sofiprotéol group, which wishes to strengthen its position in this sector. Much of the international development in this sector will be supported by the Ceva group’s global network.
This merger has bold objectives, aiming to mobilise all employees across both companies in order to accelerate the growth of the new partnership within the framework of worldwide ambitions.
MUTUAL ADVANTAGES
Mutual advantages …
The merger also boasts strong complementary factors:
- in the "Companion Animals" industry, where both entities have developed specific areas of expertise for dogs and cats:
- Antibiotic therapy and dermatology at Sogeval,
- Anti-parasitesand animal behaviour at Ceva
and their joint presence in segments such as cardiology or pain management will make this new entity a key player.
- in animal production …Ceva and Sogeval have developed areas of expertise in antibiotic therapy, vaccines and products for managing farm animal reproduction.
- in their international reach. Ceva and Sogeval will pool their distribution and subsidiary network to strengthen their positions across all markets.
…Respecting the interests of our staff
Management continuity…
José Daoudal, current CEO of Sogeval, is staying on as deputy general manager of Sofiprotéol’s Animal Division, and retains the presidency of Sogeval within the Ceva group. He will also be responsible for promoting partnerships between the two entities and will ensure the smooth integration of Sogeval into the new conglomerate.
- … and a merger which is already operational
The strong complementary factors and shared values have greatly favoured the adjustments of the teams, allowing them to be operational and fully ready to serve their customers from the beginning of 2014.
Sofiprotéol will remain active in the animal health sector
Sofiprotéol may take part in the upcoming round-table meeting and become one of the minority investors in the new structure with a view to the next LBO which will see Ceva’s managers - majority shareholders in the Group - choosing their new financial partners.
This participation would enable Sofiprotéol to support Ceva’s managers while also maintaining its presence in the animal health sector.