CVS acquires the Albavet Group
Albavet is expected to benefit substantially from better purchasing power.
Major veterinary group CVS has announced its acquisition of The Albavet Group, which employs more than 150 staff across three separate businesses.
The Albavet Group is comprised of a veterinary buying group trading under the name of Vetshare; instrumentation business VETisco and 11 small animal veterinary surgeries based in Fife, Glasgow, Nottingham, Stoke-on-Trent and Wallington.
Vetshare buying group has more than 400 members operating from over 500 surgeries across the UK. CVS chief executive Simon Innes said this acquisition offers a "major step forward" in its plan to develop a significant buying group.
CVS has also acquired the entire share capital of The Pet Crematorium, which consists of two crematoria, and VETisco, a small distribution business that currently makes a small loss.
Albavet is expected to benefit substantially from better purchasing power, while the geographical spread of its surgeries fit it well with CVS's existing sites.
Mr Innes commented: "The Albavet Group is a well-established, high quality operation. This acquisition significantly develops our surgeries in central Scotland and in the Midlands."
The most recent published accounts for Albavet show the group had a turnover of £6.6 million in the year up to 31 October 2014. The majority of this - £5.5 million - was generated by the surgeries.
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