Inquiry launched into CVS Group's acquisition of The Vet
“This deal could lead to customers facing more limited treatment choices for their pets" - Colin Raftery, CMA.
The Competition and Markets Authority (CMA) has launched an inquiry into the CVS Group's acquisition of Quality Pet Care - which trades as The Vet - after concerns were raised about competion in Bristol, Nottingham, Portsmouth, Southampton and Warrington.
In a statement, the CMA said the merger ‘would account for a significant proportion of veterinary services in each of these areas,’ adding that while practices owned by CVS and The Vet compete for customers in these locations, the ‘combined businesses would not face sufficient competition after the merger.’
CMA’s senior director of mergers, Colin Raftery, warned that the deal could lead to pet owners ‘facing a worse quality of service’ or ‘having to pay higher prices’.
“The CMA has received a number of complaints in recent years about higher prices or lower quality services as a result of too many vets’ practices in the same area being under the control of a single company," he said. “This deal could lead to customers facing more limited treatment choices for their pets or paying over the odds for services in these areas. Should CVS fail to address our concerns we will refer the deal for an in-depth investigation.”
The CVS Group owns 467 practices in the UK, while The Vet operates eight practices across England. For more information about the inquiry, visit gov.uk/cma-cases/cvs-slash-quality-pet-care-merger-inquiry
FIVP has shared a survey, inviting those working in independent practice to share their views on the CMA's proposed remedies.
