(Reuters) — Eli Lilly and Co., one of the biggest U.S. drug makers, plans to buy Germany’s privately held Lohmann Animal Health for an undisclosed sum in a move to expand its animal vaccine business.
Lilly regularly uses acquisitions to expand its animal health business, Elanco, which is one of the largest in the world.
Lohmann, which is owned by PHW Group, Germany’s biggest poultry producer and owner of the Wiesenhof food brand, supplies poultry vaccines and feed additives.
It has manufacturing sites in Cuxhaven, Germany, and Winslow, Maine.
Reuters previously reported that buyers were offering $550 million for Lohmann, which was said to have $352 million in sales last year and employs 640 staff.
Sources familiar with the matter said animal health company Zoetis Inc. and private equity firms Permira and KKR & Co. had also placed final bids for the company.
Germany’s Boehringer Ingelheim, the world’s largest unlisted drug maker, also considered an offer last year, sources said then.