Midland pet medicine firm Dechra Pharmaceuticals (DPH) has bought out a Sussex-based company in a £5.4 million deal.
The North Staffordshire company has acquired Genitrix, a veterinary pharmaceuticals business with revenues last year of £2.4 million.
The deal is being funded from Dechra’s existing cash resources.
Dechra said the acquisition of Genitrix was consistent with its strategy to grow the international veterinary pharmaceutical business.
Dechra chief executive Ian Page said: "Genitrix’s range of equine and companion animal products enhances and complements our UK product portfolio.
"Furthermore the recently approved canine epilepsy product, Libromide, provides future growth opportunities through potential mutual recognition in Europe.
"The acquisition is expected to be earnings enhancing in the first full year following ownership."
The deal comes just weeks after the firm agreed to buy a US veterinary dermatology firm DermaPet in a deal worth up to £40.7 million.