Hester Biosciences is set to acquire a 50% stake in Thrishool Exim, Tanzania, to increase its distribution footprint in Tanzania and the African continent.

Thrishool is an animal health products distribution company operating in Tanzania since 2012. Thrishool’s product range includes veterinary feed additives, feed raw materials, nutritional supplements, therapeutics and equipment sourced from recognized international producers. Over the years, Thrishool has gained prominence as well as has established itself as a respectable distribution company in the animal healthcare segment in Tanzania.

The turnover of Thrishool in the last financial year, ending 31 December 2020, was Tanzanian Shillings 7.10 billion (approximately US $ 3 million. The proposed collaboration, along with the additional range of animal vaccines from Hester Africa, will overall synergise Hester’s distribution thrust in Tanzania as well as in Africa.

The consideration for the proposed acquisition is USD 2.25 million.

The proposed transaction is subject to receipt of Tanzanian regulatory approvals.