PT
Autoridade da Concorrência

Case details

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Merger control
Case reference
Ccent/2025/26 - PAI Partners / Nuzoa
Acquired
Nuzoa Animal Health, S.L.
Description
It operates predominantly in the distribution segment of animal health products in Spain and Portugal, covering different product categories, mainly pharmaceutical products for pets and production animals, but also animal food, accessories, consumables and medical equipment. To a lesser extent, it also engages in the provision of animal health services, including laboratory diagnostics and training sessions, as well as certain digital services.
Acquiring
PAI Partners S.à.r.l.
Description
European private equity firm that typically invests in the following sectors: business services, food and consumer goods, general industry and healthcare.
Sector
  • Trade and Services
Activity (NACE)
  • G4621 - Wholesale of grain, unmanufactured tobacco, cork in the rough , seeds, other agricultural raw materials and animal feeds
  • G4646 - Wholesale of pharmaceutical goods
Applicable legislation
Art. 37(1)(c) (Law 19)
Notification thresholds
Turnover threshold
Type of merger
Conglomerate
Cooperation with sector regulators
Status
Closed
Type of Investigation
Phase 1
AdC’s decision
Non-opposition
Case description

The concentration operation consists of the acquisition, by the PAI Mid-Market Fund, managed by PAI Partners (“PAI Partners”), of exclusive control over Nuzoa and its subsidiaries (“Nuzoa”).
Timeline
2025-04-30
The AdC issued a non-opposition decision to the merger 26/2025 - PAI Partners / Nuzoa.
2025-04-10
PAI Partners notifies the acquisition of exclusive control over Nuzoa.
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