Arnolds during 1900’s.

Dechra was formed by a management buyout from Lloyds Chemist plc in June 1997 (financed by a £60m loan from Mercury Asset Management). Primarily the Dechra Group consisted of three operating companies:

• NVS – a supplier of pharmaceuticals and pet products, instruments, consumables, accessories and IT to veterinary practices. NVS was established in 1989 as a venture capital funded business and was acquired by Lloyds Chemists in 1992 when it was immediately amalgamated with Willington Medicals Limited (a company incorporated in 1938).
• Arnolds – a supplier of own-branded pharmaceuticals, instruments and equipment to the veterinary profession. Arnolds & Son was formed in 1819 manufacturing prosthetic limbs, turning its attention to supporting veterinary medicine during the Crimean War.
• Dales – a licensed manufacturer of human and veterinary pharmaceuticals for Arnolds and third party customers. Dales was formed in 1948 and was acquired by Lloyds Chemists in 1992.

Three years later (September 2000) Dechra floated on the London Stock Exchange at £1.20 per share, with a market capitalisation of £60m.

Dechra acquired North Western Laboratories and Cambridge Specialist Laboratory Services (“CSLS”) in April 2002, enabling it to extend its service offering to the veterinary profession as well as add value and share synergies with the other companies within Dechra. North Western Laboratories was rebranded to NationWide Laboratories in April 2003. The Group acquired Leeds Veterinary Laboratories, thereby extending the Group’s laboratory business in April 2007.

The acquisitions of North Western Laboratories and CSLS were followed by the acquisition of Anglian Pharma PLC in May 2002, which doubled Dechra’s contract manufacturing revenues and strengthened the depth and experience of its management team.

In April 2005 Dechra commenced trading in US, based in Kansas City, Missouri, by the acquisition of the marketing rights for a range of licensed veterinary pharmaceuticals from Nycomed US, Inc.

On 15 January 2008 the Group completed the acquisition of VetXX Holdings A/S for a total consideration of £65.2 million (including expenses). The acquisition was made on a cash and debt-free basis and was funded by way of a new debt facility and the placing and open offer of 11,624,544 new ordinary shares, raising £33.7 million net of expenses.

VetXX, renamed in December 2008 to Dechra Veterinary Products, is based in Denmark and is a developer, producer and marketer of companion veterinary products to veterinary professionals in ten European Countries, namely Denmark, Norway, Finland, Sweden, Netherlands, Spain, Portugal, France, Ireland and the UK. The acquisition has provided Dechra with a strong European footprint and has materially increased Dechra’s range of licensed veterinary products. It also provides Dechra with a sales and distribution network to market enlarged product range and future developed products to veterinary practices and wholesalers within eight European Countries in addition to the UK and Ireland in which Dechra already operated.

DermaPet Inc. a Florida based dermatological business, was acquired in October 2010 for a potential consideration of US$64.0 million.  The acquisition strengthened Dechra's position as a leader in the worldwide dermatological market.

In December 2010 Dechra acquired Genitrix Limited, a privately owned veterinary company with a range of products complementary to Dechra's, for an initial cash consideration of £5.6 million.  A further £0.8 million is payable upon specific milestones.

The Group, today, operates under four segments:

• European Pharmaceuticals - sales and marketing of Dechra's branded pharmaceuticals and specialist pet foods to the veterinary profession in Europe.  It is a licensed manufacturer of both Dechra's own branded products and products for third party customers;
• US Pharmaceuticals - sales and marketing of Dechra's branded endocrine, ophthalmic, dermatological and equine products into North America; 
• Product Development - develops and licenses Dechra's own branded veterinary product portfolio of novel and generic pharmaceuticals and specialist pet diets; and
• Services - the UK market leader in the supply of pharmaceuticals, instruments and consumables, pet products and added value services to the veterinary profession, and comprises
  • National Veterinary Services;
  • Dechra Laboratory Services; and
  • Dechra Specialist Laboratories.