Acquisition

RNS Number : 7225W

Pets At Home Group Plc

29 April 2016

 

Pets at Home acquires two veterinary referral centres

Pets at Home Group Plc, the UK's leading specialist retailer of pet food, pet accessories, veterinary and grooming services, is pleased to announce the acquisition of two further veterinary specialist referral centres.

Dick White Referrals (DWR), based in Cambridgeshire, is one of the UK's largest small animal specialist referral centres, treating over 5,000 cases each year. DWR employs 31 veterinary specialists working across a wide range of fields. We have acquired a 76% ownership stake in DWR for a consideration of £14.1m and will operate the practice as a shared venture model through which the founder, Professor Dick White, and the key clinicians, will retain 24% equity ownership.

Eye-Vet Referrals (EVR), based in Cheshire, is a dedicated opthalmology centre with six veterinary clinicians. EVR already provides services to one of our referral centres, NorthWest Surgeons, as well as to other primary opinion veterinary practices. EVR will also operate as a shared venture, with the founders retaining 10% equity ownership.

Ian Kellett, Chief Executive Officer, commented:

"We are delighted to welcome both Dick White Referrals and Eye-Vet Referrals to the Group. These new shared ventures represent another strategic step in building our presence in the specialist referrals market, whilst also enhancing our reputation with the UK's veterinary clinicians.

We have grown our specialist referrals division to four centres in just over a year and see further opportunities in the veterinary market that will deliver growth and attractive returns."

Investor Relations Enquiries

Pets at Home Group Plc:

[phone]

Amie Gramlick, Head Of Investor Relations

Media Enquiries

Pets at Home Group Plc:

[phone]

Brian Hudspith, Director Of Corporate Affairs

Maitland (Public Relations Advisors to Pets at Home):

[phone]

Greg Lawless, Tom Eckersley

About Pets at Home

Pets at Home Group Plc is the UK's leading specialist pet omnichannel retailer and services provider. Pets at Home operates from 420 superstores located across the UK. The Group operates the UK's largest small animal veterinary business with 388 practices, run principally under a Joint Venture model using the Vets4Pets and Companion Care brand names, and four veterinary specialist referral centres. Pets at Home is the UK's leading operator of pet grooming services offered through its 240 grooming salons. The Group also operates 7 specialist High Street based dog stores, called Barkers, as well as Ride-away, an equine retail business with a superstore and website. For more information visit: http://investors.petsathome.com/

 

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