Ceva Santé Animale’s global headquarters in Libourne, France. (Photo: Ceva Santé Animale’)
Ceva Santé Animale operates across several segments of animal health. Its farmed-animal business supports livestock and poultry producers through vaccines, pharmaceutical products, and related services. Its companion animal business addresses areas such as pet behaviour, parasitology, and veterinary specialties. Together, these businesses position Ceva Santé Animale at the intersection of animal health, food production, and preventive medicine.
Ceva Santé Animale’s companion animal business supports veterinarians through preventive health solutions and specialised care. (Photo: Ceva Santé Animale’)
In animal health, risks can emerge quickly and the effects can be immediate. Some diseases can also originate in animals and transmit to humans. Disease outbreaks can disrupt food supply chains, particularly as demand for higher-quality protein increases globally, making prevention as important as production. At the same time, growing demand for pet care is raising expectations around animal health more broadly. These trends reinforce the role of companies like Ceva Santé Animale in supporting how producers and veterinarians manage animal health day-to-day.
Temasek’s investment originated from proactive sector coverage in animal health and agri-food. It identified Ceva Santé Animale, an innovation-led company with strong R&D capabilities and global ambition, through its research.
Ceva Santé Animale had already attracted interest from global private equity firms as it sought financial partners to support the reshaping of its capital structure. The central consideration was not simply the ability to raise capital, but finding an investor who could stay aligned with management, demonstrate deep sector understanding, and actively support international expansion by providing relevant relationships and regional expertise.
In 2014, Temasek became that partner.
From the outset, Temasek positioned itself as a long-term partner, bringing patient capital and deep expertise in agri-food, rather than a short-term, sector-agnostic financial sponsor. Ceva Santé Animale’s management and employees, led by Dr Marc Prikazsky, remained the largest shareholders, preserving management’s ability to lead the company. This approach enabled disciplined decision-making over time and gave the business room to continue growing with other aligned institutional investors.
Beyond providing capital and being represented on the board, Temasek supported Ceva Santé Animale through regular engagement on priority areas such as market entry, key accounts, and strategic partnerships. Ceva Santé Animale remained responsible for day-to-day execution, while Temasek brought knowledge and networks that could help management assess opportunities and deepen relationships across the business.
This approach came through in practical ways as Ceva Santé Animale expanded across Asia.
In China, Temasek supported Ceva Santé Animale in restructuring its poultry vaccine joint venture with CAG Huadu Group, a subsidiary of Beijing Capital Agribusiness Group, to gain full management control.
In India, Ceva Santé Animale strengthened its position by acquiring Polchem from Godrej Agrovet—a Temasek portfolio company—gaining both an attractive entry point in the world’s most populous country and a veterinary pharmaceutical business with a strong local footprint. Temasek facilitated the initial connection, while Ceva Santé Animale assessed the opportunity and executed the transaction.
Anuj Maheshwari, Head of Agri-Food, Temasek Global Investments, speaking at Asia-Pacific Food and Agribusiness Singapore, an industry platform co-supported by Temasek and Ceva Santé Animale.
Temasek’s support also extended to ecosystem-building through joint sponsorship and participation in regional agri-food and animal health forums, such as Asia-Pacific Food and Agribusiness Singapore. These engagements helped raise Ceva Santé Animale’s profile in animal health and food security, while creating opportunities to build relationships with industry leaders and partners across the region.
More broadly, Temasek’s convening power and connectivity supported cross-sector collaboration. In Singapore, Ceva Santé Animale partnered with Mandai Wildlife Group, another Temasek portfolio company, and NParks (Singapore’s lead government agency for greenery, biodiversity conservation, and wildlife and animal health, welfare and management) on avian-influenza vaccination initiatives for wildlife and zoo species. This advanced Ceva Santé Animale's role in preventive medicine, ecosystem health, and zoonotic-disease resilience.
Beyond Asia, Temasek connected Ceva Santé Animale with leading global animal protein companies in Brazil—one of the world’s biggest exporters of beef and poultry. These relationships strengthened Ceva Santé Animale’s access to customers whose operations depend on animal health and disease prevention.
Temasek brought more than capital to Ceva Santé Animale. Its reputation, understanding of agri-food and animal health, and ability to help us access relationships made the partnership unique.
Dr Marc Prikazsky, Executive Chairman, Ceva Santé Animale
As Ceva Santé Animale moved through different stages of growth, Temasek remained a constructive partner, anchored in long-term alignment and disciplined decision-making.
After Temasek’s initial investment in 2014, Ceva Santé Animale scaled globally. By 2020, the company had completed a strong first phase of growth, giving Temasek the opportunity to realise some gains while remaining a core shareholder as the company entered its next phase.
During Ceva Santé Animale’s 2020 recapitalisation, Temasek introduced new strategic partners whose capabilities complemented the company’s priorities, including Mitsui & Co. of Japan and Continental Grain Company of the US. This strengthened Ceva Santé Animale’s market access and credibility in key geographies.
Ceva Santé Animale’s global headquarters in Libourne, France, inaugurated in July 2025. (Photo: Ceva Santé Animale)
The period between 2020 and 2025 represented a second, higher-quality value-creation phase. The company continued to strengthen through revenue growth and margin expansion, while benefiting from increased global focus on animal health. Temasek again partially crystallised value while remaining a significant shareholder.
Temasek’s value as a partner went beyond capital. By combining sector expertise, regional knowledge and networks with patient, flexible investment, Temasek provided capabilities that Ceva Santé Animale drew on as it expanded across markets and through different phases of growth.
As animal health becomes increasingly vital to food security, disease prevention and resilient supply chains, the partnership shows how long-term investors can support companies with not just capital but connectivity and conviction.
Our partnership with Ceva Santé Animale reflects how we partner with companies over the long term as they expand across markets and progress through different phases of growth. We deeply value the management team’s long-term orientation, ambition and disciplined approach. As animal health becomes more important to food security, disease prevention and supply-chain resilience, companies like Ceva Santé Animale will benefit from partners who bring more than capital and can help them build for the future.
Anuj Maheshwari, Head, Agri-Food, Temasek Global Investments
Beyond Capital highlights Temasek’s belief that value creation extends well beyond the capital that we deploy. As a long-term investor, Temasek partners closely with companies—sharing sector expertise and perspectives shaped by its global networks to help them build resilient and forward-looking businesses.
