Greencross completes purchase, adds store clinics and stores

Company News

by Jessica Amir

Greencross Limited (ASX:GXL) has announced it completed the acquisition of four vet clinics in New Zealand and opened eight in-store clinics across Australia and New Zealand.

Australasia’s largest integrated pet care company paid a total of NZ$4.1 million for the four Auckland clinics for its Animates NZ brand.

The purchase is expected to contribute an annualised revenue of over NZ$3.3 million and an annualized EBITDA of about NZ$600,000.

The company also opened a further three retail stores, one in Queensland and two in NZ.

Shares in Greencross Limited (ASX:GXL) last traded at flat at $6.80.

Jessica Amir

Finance News Network
Jessica joined FNN in January 2017 after having worked in financial advising for seven years and in TV journalism for seven years, specialising in finance, equities and analysis. She has interviewed former Prime Ministers of Australia, Tony Abbott, Julia Gillard and Kevin Rudd and ex Treasurer Jo Hockey. Jessica has worked as a journalist with Sky News Business, ABC 1, ABC's The Business, ABC24 and has also been a regional Channel 7 and 9 TV reporter with Prime7 and Win News.