Phibro to Acquire Assets of Zoetis

Fried Frank acted as counsel to Citi as financial advisor to Phibro Animal Health Corporation (Nasdaq: PAHC) ("Phibro") in its $350 million acquisition of the medicated feed additive (MFA) product portfolio, certain water soluble products and related assets from Zoetis Inc. (Nasdaq: ZTS) ("Zoetis"). Phibro is diversified animal health and nutrition company. Zoetis is the world's leading animal health company. The acquired product portfolio, which generated approximately $400 million in revenue in 2023, is comprised of more than 37 product lines that are sold in approximately 80 countries. Also included in the agreement are six manufacturing sites, four in the U.S., one in Italy and one in China.

The Fried Frank team was led by partner Roy Tannenbaum.