NVC BOLSTERS NSW NETWORK WITH $1.2M ACQUISITION

NVC BOLSTERS NSW NETWORK WITH $1.2M ACQUISITION

NATIONAL Veterinary Care (ASX:NVL) has added another clinic to its network for $1.2 million.

The Brisbane-based company acquired a practice in NSW, taking the total number of veterinary clinics and associated businesses under ownership to 40.

The purpose-built practice was established in 1994 and delivers annualised revenue of $1.48 million and EBIT of $28,000.

The total consideration was funded through debt and free cash, including $24,000 in deferred cash consideration. The acquisition is expected to be earnings per share accretive in FY17.

It follows the completion of three acquisitions announced earlier this year, including a clinic in Queensland which was settled for $45,000 in May.

More than half of the company's clinics are located in geographical clusters in south-east Queensland and Victoria, with almost 500 staff members.

NVC estimates the pet care industry in Australia was worth $8 billion in 2013, with the company's addressable market valued at $2.9 billion.

The company has outlined plans to tackle the market by expanding its Wellness Program, as well as further acquisitions as the 'fragmented' industry consolidates.

The clinic in NSW will be integrated into NVC's systems and processes.

Pet crazy? Try these:

 

Get our daily business news

Sign up to our free email news updates.

Please tick to verify that you are not a robot

 
The MBA that helped Epic Environmental’s startup employee become GM and partner
Partner Content
Environmental engineer Romin Nejad began his career at Epic Environmental at a challeng...
Queensland University of Technology
Advertisement

Related Stories

Black Friday no "be all and end all" for sales as marketing costs bite

Black Friday no "be all and end all" for sales as marketing costs bite

November is often dubbed the new December of retail sales with Blac...

Techtronic slapped with record $15m fine for resale price maintenance

Techtronic slapped with record $15m fine for resale price maintenance

The Australian arm of Hong Kong-based supplier Techtronic has been ...

7-Eleven Australia acquired for $1.7 billion

7-Eleven Australia acquired for $1.7 billion

Convenience store giant 7-Eleven Australia is set to be sold f...

United Airlines now king of the US route with new service from Brisbane to LA

United Airlines now king of the US route with new service from Brisbane to LA

United Airlines has upped the ante for its services into Australia ...