Strengthening its position in the healthcare industry, Meat exporter Anzco Foods has purchased biotechnology business Moregate Biotech.
Moregate Biotech manufactures Australian and New Zealand-sourced animal sera, animal proteins, enzymes and specialty products used in the pharmaceutical, diagnostics, veterinary, vaccine, biotechnology, research and nutritional industries.
It operates facilities in Brisbane and Hamilton and exports products to customers in Europe, India, Asia and the United States.
Anzco Foods chief executive Peter Conley said Moregate Biotech is well-established in all its key markets, has a strong distribution network and direct supply to end-users, and has a well-recognised brand in its target markets. The acquisition is viewed as complementary to Anzco’s existing biotech business, Melbourne-based Bovogen Biologicals and both will continue to operate independently.
The acquisition is subject to customary closing conditions, which should be satisfied by May.