Virbac acquires Sasaeah, a leading animal health player in Japan

Client successes

The Virbac group successfully completed its acquisition of Sasaeah in early April. Financed by Crédit Agricole CIB as sole lender, the strategic acquisition will position it as a leader in the Japanese livestock vaccine market, particularly in the cattle segment, and provide it with a broad pharmaceutical portfolio for all major species.

The transaction is the result of synergies between Crédit Agricole Provence Côte d’Azur, of which Virbac is a long-standing client, and Crédit Agricole CIB experts, including the coverage of the Midcaps Division and the teams at Corporate & Leveraged Finance (CLF). The deal illustrates the Bank’s ability to forge long-term partnerships with its clients and support them in each key stage in their strategic development. Our role as sole lender illustrates the relevance and distinction of the offer provided to Virbac.

Sasaeah results from the merger of two long-standing animal health players, Fujita Pharmaceutical Co. Ltd. and Kyoto Biken Laboratories Inc., under the aegis of ORIX Corporation. The company generates annual revenue of approximately €75 million, around half of which from vaccines. Boasting strong presence in Japan, Sasaeah develops, manufactures and markets an extensive portfolio of animal and pet veterinary products.

Virbac will benefit from Sasaeah’s production facilities in Japan and Vietnam, as well as its R&D capabilities and more than 500 passionate and skilled employees. Virbac will rank as a leading animal health player in Japan, with the opportunity to leverage these capabilities within the Group.

With the management of Virbac, we have established a strong relationship of trust over the long term and a high-quality partnership. We are by their side at each major stage in their development. This strategic advisory role, which draws on CACIB’s expertise and our ability to work in synergy, is an immense source of satisfaction.


Senior Banker (Midcaps Division)

Virbac is a client that places a premium on an understanding of its needs and new ideas. We stood apart from the strong competition for this highly sought-after customer by offering to handle the financing alone, swiftly obtaining credit committee agreements, and providing close support to the client in its discussions.”  


Director, Acquisition Finance & Advisory team (Corporate & Leveraged Finance)

Long-lasting partnerships are always based on trust. As a local and regional player, our long-standing commitment to companies in our region goes far beyond that aspect, taking the form of an alliance based on mutual trust, strengthened by synergies with our CACIB Business Experts. Harnessing these strengths, we have been able to support Virbac in its development to the satisfaction of all parties.”


Head of Corporate Markets Crédit Agricole Provence Côte d’Azur

About Virbac

Virbac is a global leader in animal health with a market capitalisation of €3 billion. It develops innovative solutions for veterinarians, breeders and pet owners in over 100 countries. Virbac’s products and services cover more than 50 species, making it possible to diagnose, prevent and treat most diseases.

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