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Chris Davison
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Guernsey
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James Greenwood
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Permira funds to sell PHARMAQ to Zoetis Inc. for US$765 million

2nd November 2015

Permira, the global investment firm, announced today that a company backed by the Permira IV fund has entered into a definitive agreement to sell PHARMAQ Holding AS (“PHARMAQ” or the “Company”), the world’s leading aquatic health group, to Zoetis Inc. (NYSE:ZTS) for US$765 million on a debt-free basis.

Since being acquired by the Permira funds in 2013, PHARMAQ has continued its international expansion and cemented its position as the global leader in health products focused on the aquaculture industry. With the backing of the Permira funds, PHARMAQ has increased its investment in R&D, allowing the Company to significantly expand and enhance its product offering for its core salmonid markets, as well as to launch new products for new species in emerging markets to better service an expanding aquaculture industry. In addition, significant investments have been made to strengthen the organisation and to create an industry leading team globally.

“We are very proud to have helped PHARMAQ expand its position as the global leader in health products for the fast-growing aquaculture industry. This investment showcases our strategy to partner with market-leading, multi-national businesses with strong growth potential and support management teams in achieving their international growth agenda, whilst creating attractive



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