15th Oct 2025 12:20
(Alliance News) - Pets At Home PLC on Wednesday said it will continue to cooperate with the UK Competition & Markets Authority, after the regulator published findings from its probe into the pet services sector.
The Cheshire, England-based operator of pet care centres and veterinary practices said a number of the reforms proposed by the watchdog were "already in place" across its Vets for Pets network, with all UK practices "owned by locally-based individuals in partnership with our central brand." The Vets for Pets business comprises 451 practices.
"Practice owners make their own pricing and referral decisions. We are also in the process of rolling out key pricing information from each individual practice to their Vets for Pets websites. These are already displayed in practices where digital screens are available," the company said.
It added that individual practices "have clinical and operational freedom, including over clinical approach, pricing, products, services, specialisms, referrals and hiring."
The company added that it "does not take any profit from practice owners, all payments are for services delivered."
It pointed to recognition from the CMA distinguishing it from competitors. In a summary of its findings, the watchdog noted that of the large veterinary groups under investigation, "five of the six have grown principally by making acquisitions while Pets at Home has expanded by opening new practices."
The summary also noted its "joint venture structure under which most of its practices are owned jointly with local individuals (usually vets)."
"We are pleased the CMA has acknowledged that Vets for Pets offers a different way of working to large-corporate ownership with our joint venture, locally-owned model. It's also right that they have recognised the impact of its inquiry on the dedicated practice teams across the country who work tirelessly to care for the nation's pets," commented Richard Dening-Smitherman, managing director of the division.
The firms included in the probe were London listings Pets at Home and CVS Group PLC, alongside Linnaeus Veterinary Ltd, which is owned by Mars Inc, and three private-equity backed firms, Independent Vetcare Ltd, VetPartners Group Ltd and Medivet Group Holdings Ltd.
The CMA had described current regulation of the sector as "not fit for purpose" and called for greater pricing transparency, as well as a GBP16 cap on prescriptions.
Dening-Smitherman added: "We also agree with the view that the legislation and regulatory system underpinning the sector needs to be updated and have proactively been calling on government to make progress on this for over two years."
A final decision is due in March, with reforms potentially coming into effect before the end of 2026.
Pets At Home shares rose 4.4% to 225.60 pence on Wednesday afternoon in London. Industry peer CVS Group PLC rose 1.0% to 1,410.00p.
For the year ended March 27, Pets at Home booked GBP120.6 million in pretax profit, up 14% from GBP105.7 million a year prior. Last month, however, it lowered annual profit guidance following an unexpected CEO exit, noting "subdued" market conditions.
By Holly Munks, Alliance News reporter
Comments and questions to [email protected]
Copyright 2025 Alliance News Ltd. All Rights Reserved.
Related Shares:
Pets at homeCVS Group