Benchmark Holdings PLC (LON:BMK) has secured the sale of its subsidiary FishVet, a provider of veterinary and diagnostic services, for between £14.4mln-£14.7mln in cash.
The aquaculture genetics, health and nutrition firm said it has sold FishVet to Pharmaq, part of Zoetis Inc (NYSE:ZTS), the world’s largest producer of medicine and vaccinations for pets and livestock.
READ: Benchmark completes sale of vet training provider Improve International
Benchmark said the sale comprises its veterinary and diagnostic services activities in the UK, Ireland, Norway and Chile and marks “another significant step” in its strategy to exit non-core areas and focus on its key disciplines in the world’s aquaculture markets.
The company also said it continues to make progress with the review of its vaccine strategy and the exit from its activities in companion animal products.
"I am very pleased to announce this transaction, the proceeds of which together with those from the sale of Improve International last week, are in line with our expectations. These disposals represent a significant step forward in our strategy to become a streamlined, profitable business focused on our key areas of competency", Benchmark chief executive Trond Williksen said in a statement.
Benchmark’s shares were steady at 38p in early deals on Wednesday.