Skip to content
Home / News |

Pets at Home Share Price Hits Record Highs After Spending £15mln to Acquire The Vet Connection

Pets at Home store
Nigel F

Shares of Pets at Home Group PLC (LON: PETS) soared around 4% today to record fresh record highs after acquiring The Vet Connection (TVC) for £15mln.

Pets said it will use existing cash reserves to fund the deal and acquire TVC, which is specialized in providing on-demand, 24/7 veterinary telehealth advice.

TVC is conducting over 7,000 consultations each month through a wide range of communication channels. In a fiscal year ending April 2020, TVC reported £700,000 in EBITDA.

X testing X
WELCOME BONUS - Free Share Bundle When You Invest £50! Get up to £500 cashback for investing with IG.
Invest in 15,000+ shares and ETFs. Open an account now, invest at least £50, and you’ll get a free share bundle worth between £40 and £200. T&Cs apply.
5.0
Open Account Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.

“We recognise TVC’s exceptional telehealth capabilities and excellent service levels, as well as the opportunities arising from the scalability of their clinical protocols and proprietary telehealth platform, and look forward to incorporating their capabilities into our existing customer offer – across product, services and subscriptions – to enhance the overall customer experience, and help drive customer acquisition, retention and lifetime value,” Peter Pritchard, CEO of Pets at Home said.

Pets at Home share price prints fresh record highs November 2020

Pets at Home share price gained around 4% to hit 441.6p, a new all-time high for the stock.

PEOPLE WHO READ THIS ALSO VIEWED:

Nigel F
Nigel F
Team Member

Nigels tiefes Verständnis der Finanzmärkte basiert auf über 10 Jahren Erfahrung. Nigel wurde bisher zweimal von der FCA (Financial Conduct Authority) autorisiert und hat in der letzten Zeit eine Finanz-Brokerage Firma besessen und verkauft. Er liefert hochaktuelle Analysen und Einsichten in die Finanzmärkte und in die allgemeine Wirtschafts- und Währungspolitik des Vereinigten Königreichs, der USA, Europas und Asiens.