Veterinary pharmaceutical business Dechra, which has its manufacturing base in Skipton, has acquired Caledonian Holdings in New Zealand for £4.4m.

Dechra said that its existing portfolio would be enhanced by Caledonian’s range of proprietary equine drugs. Caledonian reported revenue of £1.8m in the year to the end of June 2017.

Established in 2010 by a group of entrepreneurial equine veterinarians in Australia and New Zealand, Caledonian is a key supplier to equine veterinary practices in the two countries as well as having grown its presence in Hong Kong.

Dechra said the acquisition would establish it as a leading equine pharmaceutical supplier in Australia and New Zealand as well as enabling it to grow in the Asian market.

Ian Page, Dechra’s chief executive officer, said: “We are pleased to have acquired the trade and assets of Caledonian which will be integrated into our existing Australian and New Zealand (ANZ) businesses. This will enable Dechra to leverage its position in the ANZ equine market.”