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Elanco - M&A Summary and Business Overview

Life ScienceCompany

Elanco M&A Summary

Elanco has acquired 11 companies, including 1 in the last 5 years. It has also divested 3 assets.

Elanco’s largest acquisition to date was in 2019, when it acquired Bayer AG - Animal Health Business for $7.6B. It’s largest disclosed sale occurred in 2024, when it sold Elanco Animal Health - Aqua Business to Merck Animal Health for $1.3B. Elanco has acquired in 5 different US states, and 4 countries. The Company’s most targeted sectors include life science (64%) and agriculture (19%).

Elanco Business Overview

Where is Elanco headquartered?

Elanco is headquartered in Greenfield, Indiana.

What is Elanco’s revenue?

Elanco disclosed revenue of 4,439M USD for 2024 and 4,417M USD for 2023.

How many employees does Elanco have?

Elanco has 9,000 employees.

What sector is Elanco in?

Elanco is a life science company.

When was Elanco founded?

Elanco was founded in 1954.

M&A Summary

  • M&A Total Activity14
    • M&A Buy Activity11
    • M&A Sell Activity3
  • Total Sectors Invested 4
  • Total Countries Invested 4
  • M&A Buy/Sell Connections 7
  • M&A Advisors 10

Elanco

Elanco Animal Health, Inc.

2500 Innovation Way,
Greenfield, Indiana 46140
United States,
(877) 352-6261
www.elanco.com

Elanco develops and markets products and services to improve animal health and protein production in more than 75 countries. Elanco was incorporated in 1954 and is based in Greenfield, Indiana.


M&A Summary

Buy vs Sell

Year ≤ '20 '21 '22 '23 '24 '25 T
Buy (0.2/yr) # 10 1 - - - - 11
vol $9.0B $440M $9.5B
Sell (0.2/yr) # 2 - - - 1 - 3
vol $95M $1.3B $1.4B
  14

Most Recent M&A

Company Date Value Type
Elanco Animal Health - Aqua Business 2024-02-05 1.3B USD Divestiture
Greenfield, Indiana
Kindred Biosciences, Inc. 2021-06-16 440M USD Add-on Acquisition
Burlingame, California · www.kindredbio.com
Elanco Animal Health, Inc. - StandGuard 2020-07-16 - Divestiture
Greenfield, Indiana
Elanco Animal Health, Inc. - Capstar 2020-01-13 95M USD Divestiture
Greenfield, Indiana
Bayer AG - Animal Health Business 2019-08-20 7.6B USD Divestiture
Leverkusen, Germany
Prevtec Microbia, Inc. 2019-08-01 - Add-on Acquisition
Montreal, Quebec · www.prevtecmicrobia.com
Aratana Therapeutics, Inc. 2019-04-26 245M USD Add-on Acquisition
Leawood, Kansas · www.aratana.com
Boehringer Ingelheim Vetmedica, Inc. - U.S. Feline, Canine and Rabies Vaccines 2016-10-05 885M USD Divestiture
St. Joseph, Montana
Lohman SE 2014-02-24 - Add-on Acquisition
Cuxhaven, Germany · www.lah.de
Lohmann SE ( Lohmann Animal Health) 2014-02-24 - Add-on Acquisition
Cuxhaven, Germany
View All >>

M&A by Sector

Sector Buy # Value Sell # Value
Life Science 7 (64%) 1.6B (17%) 1 (33%) 1.3B (93%)
Agriculture 2 (18%) 300M (3%) - -
Consumer Products 1 (9%) - 1 (33%) -
Consumer Services 1 (9%) 7.6B (80%) 1 (33%) 95M (7%)
Total 11 $9.5B 3 $1.4B

By Geo

State/Country Buy Value Sell Value
United States 6 1.9B 3 1.4B
  Indiana - - 3 1.4B
  Montana 1 885M - -
  Maryland 1 - - -
  Kansas 1 245M - -
  California 1 440M - -
Germany 3 7.6B - -
Belgium 1 - - -
Canada 1 - - -
  Quebec 1 - - -
Domestic 6 (55%) 1.9B (20%) 3 (100%) 1.4B (100%)
Cross-border 5 (45%) 7.6B (80%) - -
Total 11 $9.5B 3 $1.4B

Top M&A Advisors

Financial Deals
Jefferies
 2
Goldman Sachs
 2
J.P. Morgan Securities
 1
Legal Deals
Paul, Weiss, Rifkind, Wharton & Garrison
 2
Covington & Burling
 1
Hengeler Mueller
 1

Deal Values

buy # Total
> $1B 1 $7.6B
$100M to $1B 4 $1.9B
TOTAL $9.5B
Largest Bayer AG - Animal Health Business
$7.6B (2019-08-20)
sell # Total
> $1B 1 $1.3B
< $100M 1 $95M
TOTAL $1.4B
Largest Elanco Animal Health - Aqua Business
$1.3B (2024-02-05)

M&A Connections

Deals
Acquired from
Strategic(s)
45%
5 (45%)
Divested to
Strategic(s)
100%
3 (100%)

Company Summary

SECTOR

Life Science

Revenue

4,439   1% 2024
4,417   1% 2023
4,411   8% 2022
4,764   46% 2021
3,271   7% 2020
3,071   1% 2019
3,067   7% 2018
2,889   2017
(millions of USD) Show More Show Less

Employees

9,000

Established

1954

Public

NYSE: ELAN

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