ANZCO Foods extends healthcare capacity with acquisition of leading biotech company
Posted on Sunday, 3 April 2022 under ANZCO Stories
One of New Zealand’s leading red meat exporters, ANZCO Foods, has entered into an agreement to acquire the globally recognised biotechnology business Moregate Biotech, further strengthening its capacity in the healthcare industry.
Moregate Biotech manufactures high quality 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.
Moregate Biotech operates facilities in Brisbane, Australia and Hamilton, New Zealand. It exports products to customers in Europe, India, Asia, and the United States. The business was established in 1975 and has developed during the last 47 years. It is an independent supplier of Australian- and New Zealand- sourced animal sera and protein products to the global market.
The acquisition will complement ANZCO’s existing biotech business Bovogen Biologicals based in Melbourne, Australia and reinforces the company’s value add strategy.
“Ownership of biotech business, Bovogen, is part of a key differentiator for ANZCO Foods in the New Zealand red meat sector,” says ANZCO Foods Chief Executive Peter Conley.
“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.”
ANZCO Foods says Bovogen and Moregate Biotech are complementary businesses and will continue to operate independently.
Moregate Biotech was founded by Elizabeth Meixner and it is a pioneer in the industry with a proven track record of more than 40 years. Following the purchase, it will be business as usual for Moregate Biotech with Ms Meixner and CEO James Dunster having ongoing involvement in the business along with its employees based in Australia and New Zealand. The company will continue to trade as Moregate Biotech.
“ANZCO Foods is the perfect match for Moregate Biotech. It understands the industry and will support and grow the business into the future,” says Ms Meixner.
Bovogen Biologicals, manufactures and supplies animal sera, animal proteins, enzymes, and specialty products used in the pharmaceutical, diagnostics, veterinary, vaccine, biotechnology, research, and nutritional applications.
“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. 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,” says Mr Conley.
“Having the two complementary operations will increase the value-proposition for customers through ANZCO’s scale. Through its ownership of Bovogen ANZCO understands this industry and has the means to invest in ongoing innovation.”
The acquisition is subject to certain conditions seeking to be satisfied by May 2022, including obtaining regulatory clearances from the Australian Competition and Consumer Commission and the New Zealand Commerce Commission.