Devro completes PVI deal

Collagen products manufacturer Devro has completed the acquisition of Dutch sector peer PV Industries (PVI) for €12.5m (£8.88m).

The London-listed company first announced the deal on 10 July, although it indicated completion of the acquisition remained conditional to regulatory approval by the authorities in some European Union’s jurisdictions.

In 2014, PVI reported earnings before interests, tax, depreciation and amortisation of €1.3m on sales of €6.3m.

"I look forward to working together to support Devro's strategy by growing sales of collagen products through product differentiation and enhancing value for customers,” said group chief executive Peter Page.

Devro shares were down 0.67% to 297.00p at 1553 BST on Tuesday.