National Veterinary Care (ASX:NVL) has today announced the acquisition of the Pet Doctors Group in New Zealand.
The purchase will be funded by exisiting cash reserves, debt and proceeds from an institutional placement.
Yesterday the company successfully completed a share placement which raised about $18 million before costs.
The pet care company says the acquisition materially increases its scale in New Zealand to become the market leader in the companion animal sector.
Shares in National Veterinary Care (ASX:NVL) is trading 1.28 per cent higher to $2.38