Complements Zoetis' Embrex® In Ovo Vaccine Delivery System, Enabling Full Automation Solutions for Hatcheries
DURHAM, N.C. – July 30, 2015 - Zoetis Inc. today announced an agreement to acquire KL Products, Inc. to strengthen its automation technology for poultry hatchery operations. The privately held company headquartered in London, Ontario, Canada, is a leader in automation systems for the poultry industry. Terms of the transaction were not disclosed.
The acquisition enables Zoetis to provide poultry industry customers with full automation solutions for hatchery operations, complementing Zoetis' category leading Embrex® in ovo vaccine delivery systems.
"In the highly integrated global poultry industry, hatcheries are seeking ways to provide healthy, vaccinated chicks while increasing operational efficiencies," said Steven Clarken, Vice President and General Manager, Global BioDevices at Zoetis. "This allows Zoetis to deliver tailored solutions that tightly integrate use of our Embrex BioDevice technology for efficacious and efficient in ovo vaccination with broader automation technology across hatchery operations. It exemplifies our commitment to be the preferred animal health partner to the poultry industry."
Zoetis has mastered the science of in ovo vaccination in the poultry industry for more than two decades with its Embrex BioDevice technology. The technology helps assure reliable, safe and effective vaccine delivery to every embryo.
"KL Products' portfolio and capabilities complement Zoetis' offerings and allow Zoetis to fulfill poultry customers' animal health needs, while providing increased efficiency across virtually every aspect of hatchery operations," said KL Products President Patrick Poulin who will join Zoetis as Director, Automation Solutions.
"The transaction is aligned with our value creation strategy to invest in complementary areas and technologies," said Alejandro Bernal, Zoetis Group President who oversees the company's Strategy, Commercial and Business Development organization and the Global BioDevices business. "Zoetis, with its scale, industry-leading poultry field force, skilled technical support team and global presence, is uniquely positioned to rapidly expand both the reach and penetration of these leading poultry technology platforms."
Zoetis (zô-EH-tis) is the leading animal health company, dedicated to supporting its customers and their businesses. Building on more than 60 years of experience in animal health, Zoetis discovers, develops, manufactures and markets veterinary vaccines and medicines, complemented by diagnostic products and genetic tests and supported by a range of services. In 2014, the company generated annual revenue of $4.8 billion. With approximately 10,000 employees worldwide at the beginning of 2015, Zoetis serves veterinarians, livestock producers and people who raise and care for farm and companion animals with sales of its products in 120 countries. For more information, visit www.zoetis.com.
Forward-Looking Statements: This press release contains forward-looking statements, which reflect the current views of Zoetis with respect to business plans or prospects, future operating or financial performance, expectations regarding products, future use of cash and dividend payments, and other future events. These statements are not guarantees of future performance or actions. Forward-looking statements are subject to risks and uncertainties. If one or more of these risks or uncertainties materialize, or if management's underlying assumptions prove to be incorrect, actual results may differ materially from those contemplated by a forward-looking statement. Forward-looking statements speak only as of the date on which they are made. Zoetis expressly disclaims any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. A further list and description of risks, uncertainties and other matters can be found in our Annual Report on Form 10-K for the fiscal year ended December 31, 2014, including in the sections thereof captioned "Forward-Looking Information and Factors That May Affect Future Results" and "Item 1A. Risk Factors," in our Quarterly Reports on Form 10-Q and in our Current Reports on Form 8-K. These filings and subsequent filings are available online at www.sec.gov, www.zoetis.com, or on request from Zoetis.