Pets at Home expands veterinary services
It has been announced today that Pets at Home has bought Vets4Pets, and will be integrating their 93 veterinary practices into its existing in-store practices.
The pet store currently runs veterinary practices under the Companion Care brand in 116 of its 346 stores. Following the acquisition of Vets4Pets, the store will have a total of 209 practices. Sales from the two businesses in the year up to March 2013 reportedly totalled £100 million.
Commenting on the announcement, Pets at Home CEO Nick Wood said: "The expansion of our veterinary business is a key element of our growth strategy…providing additional services to our customers within our stores or close to our customer's homes. The acquisition of Vets4Pets is an important step in the delivery of this strategy."
Founder and CEO of Vets4Pets Peter Watson has welcomed the move, saying: "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."
Following the acquisition, Vets4Pets' UK operational centre will stay in the East Midlands, and its support functions will be divided between the Guernsey office and Companion Care's operation in Oxfordshire.
Mr Watson will being staying with the business, which Nick Wood said he is "delighted" about. Mr Watson will be working closely with Companion Care MD Jane Balmain, who said: "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."
Image source: Maitland PR
FIVP has shared a survey, inviting those working in independent practice to share their views on the CMA's proposed remedies.
