Hester Biosciences to acquire 50 per cent stake in Tanzania firm

Hester Biosciences recently said it has entered into a pact to acquire 50 per cent stake in Tanzania-based animal health products distribution firm Thrishool Exim for $2.25 million (around Rs 16 crores).

Thrishool has been operating in Tanzania since 2012. Its product range includes veterinary feed additives, feed raw materials, nutritional supplements, therapeutics and equipment sourced from recognised international producers, Hester Biosciences said in a regulatory filing.

”The consideration for the proposed acquisition is $2.25 million,” it added.

The proposed collaboration, along with the additional range of animal vaccines from Hester Africa, will synergise Hester’s distribution thrust in Tanzania as well as in Africa, Hester Biosciences said.

”The turnover of Thrishool in the last financial year, ending 31st December, 2020, was Tanzanian Shillings 7.10 billion (approximately $3 million),” it added.