5 days Ago
York-based Animalcare Group Plc has bought Randlab Australia Pty Ltd and subsidiaries for £62.2million. Randlab is a privately-owned, Australian-based equine veterinary business with an extensive portfolio of equine brands The company generated revenue of A$22.
9 million in 2024 and EBITDA of A$11.0 million. Jenny Winter, Chief Executive of Animalcare Group plc, (above) said: “We are delighted to have reached an agreement to acquire Randlab subject to completion of the transaction.
"This is a highly attractive opportunity to acquire a market-leading equine asset in Australia that is expected to deliver significant earnings accretion in 2025. “This is a transformational deal that provides an excellent fit with our growth strategy and is complementary to our product portfolio. Over the last 20 years the Randlab team has built a sustainable, profitable and cash generative business with an impressive track record in a market that places great importance on knowledge and expertise of equine health and wellbeing.
” “Not only will this acquisition significantly elevate the Group’s offering in a growing equine market, it will also open wider opportunities in a commercially and regulatorily aligned business environment. We are keen to start working with our Randlab colleagues as soon as possible.”.
