Meat exporter Anzco Foods has strengthened its position in the healthcare industry with the purchase of 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.
“Anzco Foods’ purchase of Moregate Biotech will further grow and differentiate the company’s value-add and healthcare operations for the benefit of customers,” Conley said.
The acquisition is viewed as complementary to Anzco’s existing biotech business, Melbourne-based Bovogen Biologicals and both will continue to operate independently.
“Both companies source raw blood products from New Zealand and Australia, which are sought after by overseas customers given their status as some of the most disease-free countries,” he said.
“Demand for Oceania origin blood products from the world’s biotech and pharmaceutical manufacturing companies is strong and this is likely to increase in a post-covid-19 environment.”
The acquisition is subject to customary closing conditions, which should be satisfied by May.
