Phibro Animal Health will acquire product portfolio from Zoetis

Press Release

The $350 deal includes medicated feed additive products, certain water soluble products, and related assets.


Photo: Jonatan Rundblad/Adobe Stock

Phibro Animal Health will acquire Zoetis’ medicated feed additive (MFA) product portfolio, certain water soluble products and related assets for $350 million. The 2 parties announced the definitive agreement on Sunday, April 28, 2024, in a joint news release.

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. The transaction is expected to be completed later this year.

According to Zoetis, the agreement is a capital allocation strategy that allows the company—based in Parsippany, New Jersey—to focus its investments on solutions for animal health, productivity and sustainability. These solutions include vaccine, biologic and genetic programs for livestock.

“We remain committed to providing innovative solutions to our livestock customers,” Kristin Peck, chief executive officer of Zoetis, said in the release. “We believe that the long-term value of the transferred portfolio will be fully realized with Phibro Animal Health which will continue to expand its reach given their strong relationships with customers worldwide.”

Zoetis’ portfolio of MFA and water soluble products across cattle, swine and poultry is strong, according to the company. The portfolio is expected to complement and expand Phibro Animal Health’s species and product portfolios that focus on animal care, disease prevention, and nutrition.

Based in Teaneck, New Jersey, Phibro Animal Health sales in the last 12 months would have been approximately $1.4B with a combined basis for the acquisition. The portfolio pending acquisition is expected to boost Phibro Animal Health’s profitability. The acquisition is expected to be funded primarily with debt, and Phibro Animal Health has received financing commitments from a number of key relationship banks.

“Over a long period of time, Zoetis has built a valuable, high-quality and reliable source of medicated feed additives around the globe,” Jack C. Bendheim, chairman, president and chief executive officer of Phibro Animal Health, said in the release. “This investment will enhance, diversify and broaden our portfolio globally and help us continue to deliver value to our customers and to our shareholders. We believe our cash generation will allow for continued investment into our higher growth businesses of nutritional specialties, companion animal, and vaccines. I am confident we have the right capabilities to integrate and strengthen this business.”

According to Zoetis, more than 300 of its employees in manufacturing, distribution and commercial activities are expected to transition to Phibro Animal Health. The 2 companies anticipate working closely with employees and customers to ensure a smooth transition and continued supply of these important products. “I look forward to collaborating with the Zoetis team and welcoming new colleagues to Phibro Animal Health to support this portfolio,” Bendheim said.


Zoetis to sell medicated feed additive portfolio to Phibro Animal Health. News release. Zoetis and Phibro Animal Health. April 28, 2024. Accessed April 29, 2024.

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