Hester Biosciences has received an approval to make investment in the partnership firm namely, Texas Laboratories, Mehsana in state of Gujarat. The board of directors at its meeting held on March 22, 2017 has approved for the same.
The company intends to acquire 55% stake of Texas Laboratories with a view to enhance its capacity building and strategies its future growth. It will pay approximately Rs 2.64 crore to acquire 55% of the stake.
Further, the company has also received an approval to accept the buy-back offer of its associate company -Leruarua Vetcare (Proprietary), Botswana. The entire transaction for buy back of equity would be completed within next 15 working days.
Texas is a manufacturer of pharma formulations, tablets, capsules, injections and supplier of pharma formulations, tablets, capsules, powder and veterinary product.