National Veterinary Care to acquire New Zealand’s Pet Doctors Group

Company News

by Anna Napoli

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

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.