The transaction by which Phibro Animal Health acquired the Zoetis portfolio of feed additives is valued at $350 million. It is anticipated that the deal will be completed during the second half of 2024.  The acquisition includes 37 product lines marketed in 80 countries together with six manufacturing locations, four in the U.S., and one each in Italy and China.  Three hundred employees are expected to transition from Zoetis to Phibro. The transaction will increase annual sales by Phibro Animal Health to over $1.4 billion.

Jack C. Bendheim, Chairman and CEO of Phibro Animal Health stated, “This investment will enhance, diversify and broaden our portfolio globally and help us to deliver value to our customers and to our shareholders.”  He added, “We believe our cash generation will allow for continued investment into our higher growth businesses of nutritional specialties, companion animals and vaccines.”  It is anticipated that Zoetis and Phibro Animal Health will cooperate to achieve a smooth transition and continued supply of products.