The Japanese trading company Mitsui has acquired 29.4% of the shares in the São Paulo health company Ourofino.
Investing $67.4 million, Mitsui will “pursue synergies” with business partners and global networks.
The company will agree on a shareholders‘ paper assuring the founders of the veterinary industry, Norival Bonamichi and Jardel Massari, of keeping control of the business.
The deal yet has to be permitted by the Brazilian Administrative Council for Economic Defense (CADE).
The health company Ourofino Saúde Animal, which is listed on the Brazilian Stock Exchange with a worth of 1.1 billion reais ($215 million), is focussed on medicines and vaccines whereas the pet sector accounts for 13% of Ourofino’s business.
In 2021, the enterprise could schedule a net turnover of 905 million reais ($177 million) and net income amounting to 112 million reais ($21 million). During 2022, the company’s shares decreased by 14%.
Mitsui, a company operating in 60 markets all over the world, is a multibusiness firm in areas like services, energy, steel, mobility, mining and logistics (total capital over $ 110 billion). In 2016, th company implemented a Nutrition and Agriculture division after recognizing animal health business as its focus.