Pets At Home Group Plc Acquisition (8353G)
30 Noviembre 2020 - 1:00AM
UK Regulatory
TIDMPETS
RNS Number : 8353G
Pets At Home Group Plc
30 November 2020
FOR IMMEDIATE RELEASE, 30 November 2020
Pets at Home Group Plc: Acquisition of The Vet Connection
Broadening our digital capability in trusted advice and pet care
solutions
Pets at Home Group Plc, the UK's leading pet care business, is
pleased to announce the acquisition of The Vet Connection ("TVC"),
the UK's largest independent veterinary telehealth provider, for
cash consideration of GBP15m. The consideration is being financed
using Pets at Home's existing cash reserves.
Founded in 2002, TVC has an established and successful track
record of providing on demand, high quality, round-the-clock
veterinary telehealth advice, triage and ancillary services to a
wide range of customers and their pets. Using their experienced
in-house veterinary team, TVC already conducts approximately 90,000
remote consultations each year, underpinned by extensive
proprietary clinical protocols, a wide range of communication
channels and a robust and scalable infrastructure.
In the year to April 2020, TVC achieved adjusted Ebitda of
GBP0.7m.
Peter Pritchard, Group Chief Executive Officer, commented:
"The acquisition of TVC marks an important next step in the
development of our digital capabilities providing trusted advice
and even more convenient pet care services. We have followed their
business for a number of years and know Jamie Moodie, Nick Irvine,
Rob Mitchell and the TVC team well, and look forward to working
with their current partners and supporting the continued
development of their service.
We recognise TVC's exceptional telehealth capabilities and
excellent service levels, as well as the opportunities arising from
the scalability of their clinical protocols and proprietary
telehealth platform, and look forward to incorporating their
capabilities into our existing customer offer - across product,
services and subscriptions - to enhance the overall customer
experience, and help drive customer acquisition, retention and
lifetime value.
TVC is a "win-win" solution for our customers, colleagues and
JVPs, providing 24/7 access to trusted advice from the comfort of
home with increased flexibility around veterinary work-life
balance."
- End of announcement -
Investor Relations Enquiries
Pets at Home Group Plc:
Roger Tejwani, Director of Investor Relations & External
Communication
+44 (0)1279 927022
Chris Ridgway, Head of Investor Relations
+44 (0)7788 783925
Media Enquiries
Pets at Home Group Plc:
Gillian Hammond, Head of Media & Corporate Affairs
+44 (0)7442 500138
Maitland/AMO:
Clinton Manning
+44 (0)7711 972662
Frederica Bendit
+44 (0)7557 833442
About Pets at Home
Pets at Home Group Plc is the UK's leading pet care business;
our commitment is to make sure pets and their owners get the very
best advice, products and care. Pet products are available online
or from our 451 stores, many of which also have vet practices and
grooming salons. Pets at Home also operates a UK leading small
animal veterinary business, with 440 First Opinion practices
located both in our stores and in standalone locations, as well as
five Specialist Referral centres. For more information visit:
http://investors.petsathome.com/
Disclaimer
This trading statement does not constitute an invitation to
underwrite, subscribe for, or otherwise acquire or dispose of any
Pets at Home Group Plc shares or other securities nor should it
form the basis of or be relied on in connection with any contract
or commitment whatsoever. It does not constitute a recommendation
regarding any securities. Past performance, including the price at
which the Company's securities have been bought or sold in the
past, is no guide to future performance and persons needing advice
should consult an independent financial adviser. Certain statements
in this trading statement constitute forward-looking statements.
Any statement in this document that is not a statement of
historical fact including, without limitation, those regarding the
Company's future plans and expectations, operations, financial
performance, financial condition and business is a forward-looking
statement. Such forward-looking statements are subject to risks and
uncertainties that may cause actual results to differ materially.
These risks and uncertainties include, among other factors,
changing economic, financial, business or other market conditions.
These and other factors could adversely affect the outcome and
financial effects of the plans and events described in this
statement. As a result you are cautioned not to place reliance on
such forward-looking statements. Nothing in this statement should
be construed as a profit forecast.
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END
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