M&A

M&A

Animal health co Zenex acquires Ayurvet

Economic Times  

Zenex, an animal health company backed by private equity firm Multiples PE, has acquired Ghaziabad-headquartered Ayurvet - a company founded by Pradip Burman of FMCG firm Dabur India's promoter family. Ayurvet, founded as a subsidiary of Dabur India in 1992 and later spun off as an independent entity in 2002, is a provider of ayurvedic and herbal medicines, feed supplements and topical treatments for farm and companion animals. Zenex is backed by a consortium of financial investors led by Multiples PE, along with CPP Investments, RARE Enterprises, SBI, ADB, IFC, and HNIs. It had acquired Zydus animal health business for INR 2,921 crore in July 2021.