Under the deal, Nexan’s products and R&D functions will still be developed in NZ
Duncan Cotterill has assisted NZX-listed rural services company PGG Wrightson Limited (PGW) as it acquired local animal health product manufacturer Nexan Group.
According to the firm, the deal “ensures continued R&D for New Zealand conditions and access to locally developed and produced veterinary and livestock pharmaceuticals that drive profitability and sustainability on-farm”.
“This is a strategic acquisition for PGW and an excellent fit for our business. It ensures that Nexan’s trusted range of products and R&D functions will continue to be developed in New Zealand, backed by local expertise, and aligned with the needs of our rural communities”, said Julian Daly, general manager of corporate affairs at PGW. “By securing the Nexan brands, we are safeguarding local jobs, R&D knowledge and capability, while further strengthening our technical offering and ability to support on-farm productivity”.
Daly added that PGW had had its eye on Nexan as an asset for “a number of years”.
Duncan Cotterill partners Peter Fernando, Mark Cathro and Gareth Clendinning headed up the team that advised PGW in relation to the acquisition’s negotiation, execution and completion. The partners were assisted by corporate solicitor Georgia Day, solicitor Mia Warman and employment senior associate Jonny Sanders.
Nexan received legal support from a Simpson Western team spearheaded by partner Jamie Barr and associate Judy Zhou. Nexan Group is behind the Vetmed brand and consists of Nexan and Vet Direct; its product lines include Active+, Cervidae, Farma, and CentraMax.
