Pets At Home Expands Its Veterinary Business With The Acquisition Of Vets4Pets
11 years ago
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Posted
9th April, 2013 08h50
Pets at Home is delighted to announce the acquisition of joint venture veterinary business, Vets4Pets. Following this acquisition Pets at Home will integrate Vets4Pets’ 93 stand-alone veterinary practices with its existing 116 in-store joint venture vet business, Companion Care.
The integration of Vets4Pets and Companion Care will create a strong player in the small animal veterinary market, which is currently served by an estimated 2,500 practices in the UK, enabling Pets at Home to grow a network of veterinary practices both in its stores and in stand-alone locations. In the year to 31 March 2013, sales from the combined underlying JV practices will total £100m.
Following the acquisition, Vets4Pets’ UK operational centre will remain in the East Midlands, with its support functions being split between Companion Care’s operation in Oxfordshire and Vets4Pets’ Guernsey office.
Commenting on this acquisition Nick Wood, CEO said:
“The expansion of our veterinary business is a key element of our growth strategy for Pets at Home, providing additional services to our customers within our stores or close to our customers’ homes. The acquisition of Vets4Pets is an important step in the delivery of this strategy. Vets4Pets is highly complementary to Companion Care, sharing fundamental beliefs and values, and is an excellent strategic fit for Pets at Home. I am delighted that Peter Watson has agreed to stay with the business. His knowledge and experience will be invaluable as we continue to build our veterinary business with both stand-alone and in-store practices. He will work closely with Jane Balmain, the Managing Director of our Companion Care business as we integrate the two businesses.”
Peter Watson, Founder and CEO of Vets4Pets welcomed the association with Pets at Home. He said:
“Pets at Home holds a unique place in the retail landscape, built on a strong identity and a real passion for people and pets. It is clear to me that Nick and his team have a similar vision for their veterinary business. I’m delighted to be working with Nick to continue to expand the veterinary business by offering attractive joint venture opportunities for vets in stand alone locations to complement the offering in Pets at Home stores.”
Companion Care MD, Jane Balmain added:
“Companion Care and Vets4Pets each enjoy a strong reputation among both vets and customers. Both businesses have a common business model, offering joint venture partnerships with vets. I am looking forward to working alongside Peter as we bring the businesses together, continue to expand our joint venture partnerships and accelerate our growth.”
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