CVS Group expands to Australia with 4 new acquisitions

CVS Group, one of the UK’s largest veterinary services providers, has announced its expansion plans into Australia. 

Under the deal, CVS has acquired McDowall Veterinary in Brisbane and Warner Vet Practices in Queensland. It is still in the process of acquiring Northgate Veterinary Surgery and St Vincents Vets in Brisbane and Southside Animal Hospital in Sydney. The deal involves 4 separate agreements for 6 site locations. 

CVS explains to GlobalPETS that its expansion aligns with its “growth objectives.” 

The CVS Board identifies Australia as “particularly attractive given the favorable market dynamics, shared language and culture and the Group’s experience working in both countries.” 

Amid the news, the animal healthcare provider noted its like-for-like sales rose by 7.3% by the end of its FY2023, which concluded on 30 June. 

CEO Richard Fairman stated his “delight” to report on the “continued growth of CVS” and the vet group’s entry into the Australian market.

Expansion details 

The veterinary group says they have already established a senior management team to support the acquired practices and to develop new acquisition opportunities.

“I am excited to build a significant CVS business in Australia with the same culture and values that have brought us success in the UK,” says Deputy CEO Ben Jacklin.

Further down the line, CVS plans to acquire more businesses in Sydney, Melbourne, Brisbane, Perth, Canberra, Newcastle and Adelaide. 

Speaking with GlobalPETS, a spokesperson for the group mentions it has found “a strong pipeline of opportunities,” including various “non-binding indicative offers that have been accepted” for further clinic acquisitions. 

The veterinary health group expects to “gradually benefit from additional advantages of scale” through the expansion, including “improved drug purchasing terms, revenue growth and margin enhancement.”