In 2023, Vetoquinol Celebrates Its 90th Anniversary
The key steps of a visionary strategy
LURE, France, March 27, 2023--(BUSINESS WIRE)--Regulatory News:
From the very beginning, Vetoquinol's strategy has been linked to the history of the Frechin family and to an entrepreneurial conviction: customer needs guide the company's innovations and initiatives.
Joseph Frechin, a visionary pharmacist, founded the company in 1933. His son, Étienne, who joined the company in 1963, promoted a bold international strategy that placed Vetoquinol among the market leaders. His grandson Matthieu, appointed CEO in 2010, is breathing new life into the company while focusing on the empowerment of each and everyone.
Since 1963, Etienne Frechin has been developing exports and devoting himself to expanding Vetoquinol's business around the world. This internationalization strategy led him to create a dedicated export department. International growth continued with the creation of the company's first subsidiary in the Netherlands in 1977. With the purchase and creation of distribution subsidiaries abroad, Vetoquinol wove a worldwide web. In the 1990s, the company set up operations in England, Spain, Canada, the United States, Germany and Mexico. The acquisition of the Swiss group Chassot in 2001 enabled Vetoquinol to complete its European coverage with Switzerland, Poland and Austria. In 2004, the company set up operations in China, and in 2006 in Korea.
Vetoquinol’s growth accelerated sharply, enabling it to become one of the world's leading players in animal health. Today, more than 80% of its turnover is generated outside France, with 47% of its activity in Europe, 36% in the Americas and 17% in Asia/Pacific.
Independence and long-term strategy
To continue to grow, Vetoquinol has made the strategic choice to remain an independent pharmaceutical laboratory with two strong assets: its human size and its family ownership. For Matthieu Frechin, entrepreneurship, innovation and team spirit remain the company's best assets to continue the company's development.
The IPO on Euronext Paris in 2006 enabled Vetoquinol to accelerate its growth in new markets, while maintaining the family values that have made it a success.
The customer at the heart of the strategy
Today, the company's strategy is to offer solutions to its customers and to develop its positions by focusing on targeted market segments such as dairy cows companion animal mobility, dermatology and parasiticides.
Vetoquinol offers its customers different types of technologies ranging from pharmaceutical and biotech drugs to non-pharmaceutical products, diagnostics, and digital solutions.
Today, the company has all the tools, skills, processes, and strategy to continue its successful development in France and abroad. Vetoquinol is constantly enriching its customer centric culture, which is key to its success.
Vetoquinol is a leading global animal health company that supplies drugs and non-medicinal products for the farm animals (cattle and pigs) and pet (dogs and cats) markets. As an independent pure player, Vetoquinol designs, develops and sells veterinary drugs and non-medicinal products in Europe, the Americas and the Asia Pacific region. Since its foundation in 1933, Vetoquinol has pursued a strategy combining innovation with geographical diversification. The Group’s hybrid growth is driven by the reinforcement of its product portfolio coupled with acquisitions in high potential growth markets. Vetoquinol employed more than 2,500 people as of December 31st, 2022.
Vetoquinol has been listed on Euronext Paris since 2006 (symbol: VETO).
The Vetoquinol share is eligible for the French PEA and PEA-PME personal equity plans.
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