Ebos buys SVS Veterinary Supplies for $115m, will raise $270m

Ebos buys SVS Veterinary Supplies for $115m, will raise $270m
Ebos chief executive John Cullity said SVS is a long-standing and successful business with a leading position in New Zealand. (Image: Ebos)
Rebecca Stevenson
Listed animal and healthcare firm Ebos will raise about $270 million of new equity and has acquired pet medicine firm SVS Veterinary Supplies for $115m. In a statement on Thursday night, Ebos said it paid $115m up front for SVS with a $10m earnout. Ebos said that SVS was a leading supplier of pet medicines and other products to more than 500 veterinary clinics and specialty retailers in New Zealand.  It has more than 100 employees in five locations in Hamilton, Palmerston North, Wellington and Christchurch. For the year...

More Markets

All is not necessarily lost for Pacific Edge – Forsyth Barr
Markets

All is not necessarily lost for Pacific Edge – Forsyth Barr

Pacific Edge shares fell 26% to 8.4 cents on Monday, but “all is not necessarily lost”, said Forsyth Barr analysts.A local coverage determination in the United States means the company will no longer receive reimbursement for its Cxbladder tests from Medicare. Centres for Medicar...

Fonterra's plans unchanged despite court ruling
Primary Sector

Fonterra's plans unchanged despite court ruling

Bega reiterates its interest in Oceania business. 

Rakon reveals Chinese customer dropped
Markets

Rakon reveals Chinese customer dropped

High-tech manufacturer also says it had more than one interested buyer for the business.

Millennium Copthorne independent directors reject new offer but there is a caveat
Markets

Millennium Copthorne independent directors reject new offer but there is a caveat

Millennium & Copthorne Hotels New Zealand (MCK) independent directors recommended that minority shareholders steer clear of an increased offer from CDL Hotel Holdings NZ (CDLHH), but there was a caveat. In January, the subsidiary of the Singapore Stock Exchange-listed City Develo...