Pets at Home sells £100m specialist referral practices

Wilmslow-based pet and vet retailer Pets at Home Group on Tuesday announced the disposal of its five specialist referral practices to Linnaeus Group for up to £100 million in cash. 

“Pets at Home’s strategy as the UK’s leading pet care business is unchanged, with this disposal being part of the continuing focus of group resources on customer-facing activities across our omnichannel retailing and First Opinion veterinary operations,” said Pets at Home.

The specialist group comprises the assets and operations of:

–       Dick White Referrals in Cambridgeshire

–       Anderson Moores in Hampshire

–       Northwest Veterinary Specialists in Cheshire

–       Eye Vet in Cheshire

–       Veterinary Specialists Scotland in Livingston, Scotland

Linnaeus Group, a subsidiary of Mars Veterinary Health, is a veterinary group operating over 150 veterinary clinics across the UK.

Pets at Home CEO Peter Pritchard said: “The disposal represents a great outcome for all of our stakeholders.

“Linnaeus is a well-regarded operator of veterinary practices with a strong and established track record of practice management.

“We hold them in high regard, and they will be a great home for our highly-skilled colleagues in the Specialist Group, underpinned by an ongoing commitment to specialist multi-disciplinary veterinary care, supported by Mars.

“For our First Opinion Joint Venture Partners and Retail colleagues, the disposal allows realignment of financial and operational resource to support them in doing even more for our customers and their pets.

“For our shareholders, the disposal proceeds provide the group with additional resource to accelerate growth across our customer-focused pet care platform.”

Linnaeus CEO Bart Johnson said: “We are delighted to welcome our new colleagues and these fantastic and highly-respected referral practices into the Linnaeus family and to grow our offering further, taking another step towards making an even better world for pets”.