Merck Animal Health, the animal business of Merck & Co., has agreed to acquire a controlling interest in Vallée S.A., a privately held producer of animal health products in Brazil.

Vallée has a portfolio of more than 100 products spanning parasiticides, anti-infectives, and vaccines. The company's portfolio includes products for livestock, horses, and companion animals. Vallée was founded with the mission of producing a foot and mouth Disease vaccine for Brazil and has expanded since then with distribution centers in Brazil and operations in Paraguay, Venezuela, Mexico, and Bolivia.

Under the agreement, Merck Animal Health, through a subsidiary, will acquire approximately 93% of the shares of Vallée S.A. at closing, in exchange for a payment of $400 million, based on current exchange rates. This agreement is subject to regulatory review and certain closing conditions.

Source: Merck & Co.