Phibro discloses Zoetis MFA portfolio audited financials: $407.6M revenue in FY2023

PHIBRO ANIMAL HEALTH CORP

Acquired MFA portfolio had $407.6M revenue & $91.2M revenue less direct expenses in 2023; up from $59.9M in 2022.
Cost of sales was $284.3M in 2023 vs $310.3M in 2022; gross margin improved to 30.3% from 23.9%.
Total assets acquired as of Dec 2023: $334M; liabilities assumed: $24.5M; net assets ~$309.5M.
Transaction closed Oct 31, 2024 for $350M subject to adjustments; includes six manufacturing plants.
Pro forma financials filed for year ended June 30, 2024; combined entity impact not yet quantified.

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