13th Jun 2025 10:57
(Alliance News) - Animalcare Group PLC on Friday said it has acquired a 25% stake in Australian animal companion business InVetro Pty Ltd, with an option to grow this to 51% in future.
The York, England-based veterinary services and pharmaceuticals firm paid the Sydney-based animal health company a cash consideration of AUD3 million - around GBP1.4 million.
InVetro will use the funds to expand its commercial reach and product portfolio, Animalcare said. As part of the deal, Animalcare has an option to raise its stake to 51% between June and December 2029.
Animalcare shares fell 2.5% to GBP277.04 in London on Friday morning after news of the acquisition.
The British firm described this as a strategic move into "the growing Asia-Pacific veterinary market", claiming InVetro provides "immediate access to business" through existing regulatory permits and local relationships.
Animalcare's Chief Executive Jenny Winter commented: "This strategic investment expands the group's geographic footprint in the large and growing companion animal health market. The Australian market presents a significant opportunity, and this partnership allows us to participate in that growth with a trusted and capable team already on the ground. We look forward to supporting the business as it transitions into full-scale commercial operations and begins to maximise its potential."
Animalcare said on Friday it aims to build an animal companion business in the region with revenues between AUD20 million and AUD25 million. Back in January, Animalcare paid GBP62.2 million to acquire Randlab Pty Ltd, a Revesby, Australia-based equine veterinary business.
By Holly Munks, Alliance News reporter
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