Cox Agri acquired by PE-backed Allflex

Allflex acquires cattle tag manufacturer Cox Agri

Allflex, the global leader in animal identification, has expanded its footprint in the UK market by acquiring Cox Agri, a prominent UK-based cattle tag manufacturer. This acquisition, led by advisor James Pugh, solidifies Allflex’s position as the UK’s leading provider of cattle tags, enabling the company to offer an even broader range of identification solutions to UK farmers.

CMA approves the deal

The acquisition triggered an antitrust investigation by the UK’s Competition and Markets Authority (CMA) in 2015, due to concerns about market dominance in cattle tagging, where the combined entity controls 43% of sales.

After a four-month probe, the CMA approved the deal, clearing the path for Allflex to integrate Cox Agri’s operations and secure its market-leading position in the UK.

Backed by BC Partners

Allflex has been part of the BC Partners portfolio since 2013, following the private equity firm’s $1.3 billion acquisition of Allflex from Electra Partners.

BC Partners, a European private equity powerhouse, has been supporting Allflex's strategic growth initiatives globally, and the Cox Agri acquisition marks another step in Allflex's expansion journey.

Strong advisory team for Cox Agri

The shareholders of Cox Agri were advised by James Pugh throughout the transaction.

His leadership helped ensure a smooth acquisition process, facilitating Cox Agri's integration with Allflex and positioning the combined company for continued success in the animal identification sector.

Post-transaction M&A update

After further bolt-on acquisitions to build a globally dominant position in animal intelligence and monitoring solutions, Allflex - renamed Antelliq - was sold on to healthcare giant Merck in 2019.

Client feedback

“James was fantastic to work with. We shared a sense of humour, which really helped us hit it off. That meant that throughout the sale, we had constant outbursts of laughter. In fact the harder things got, the more one of us would interject with a funny comment, and there was an immediate release of tension. That was crucial. This applied to the buyer too – we all got on well, and we actually had some three-way conversations on the phone where there was a lot of laughter.

Looking back, it was brilliant the way James smoothed the deal. He pre-empted problems, flagged up potential difficulties, and forewarned me of any major issues, which of course meant they became much less momentous later on. Those interpersonal, management skills were decisive.

James has worked on many, many M&A deals – and even sold a company of his own – and I really felt his experience on my side, always.”

Andrew Sesemann, owner

Cox Agri

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