Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Ebos kicks tyres on potential acquisitions

Ebos kicks tyres on potential acquisitions

By Pam Graham

Jan. 23 (BusinessDesk) – Ebos Group is progressing a couple of acquisition opportunities after indicating to shareholders last year that it was looking to follow up the successful purchase of Masterpet.

Market observers have identified SVS, New Zealand’s leading full service provider of products to the veterinary industry, as a nice fit.

Ebos chief executive Mark Waller told BusinessDesk that Ebos had talked to SVS in the past but had not spoken to them for a while.

“They are privately owned and one of the brothers had bought it off the other one and wasn’t ready to talk about selling,” he said.

The supplier of medicines, consumables, equipment and instruments as well as animal feed to vets was founded by Basil Elstob in 1987. It grew from a small base in Christchurch to a nationwide business.

John Elstob said he wasn’t in talks with Ebos.

But Ebos is looking.

“We are working through a couple of opportunities at the moment,” Waller told BusinessDesk. He said they were in the animal and human health sectors.

Ebos told shareholders at its annual meeting last October that its appetite for acquisitions was still strong after making 18 purchases in the past decade.
The purchase of Masterpet in 2011 from private interests gave it entry to a new sector.

“Financially we were well prepared for this, having exited our scientific businesses for a healthy profit in 2010,” Chairman Rick Christie told shareholders.

The acquisitions of Propharma and Healthcare Logistics in 2007 and Masterpet in 2011 were the largest and the best, Christie said.

The company reported an underlying profit of $27.9 million in the year to June 30, 2012, up 19.4 percent on the previous year.

It finished the year with net debt of only $87 million after funding Masterpet.

(BusinessDesk)


© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Scoop Business: NZ Dollar Catches Breath After "Goldilocks" Slump

The New Zealand dollar edged up following its dramatic slump yesterday after the Reserve Bank confirmed speculation it intervened in the currency market last month and PM John Key suggested a “Goldilocks” level far lower than at present. More>>

ALSO:

Biosecurity: Kiwifruit Claim To Hold Officials Accountable For Psa

Kiwifruit growers have joined forces to hold Biosecurity NZ accountable in the courts for its negligence in allowing 2010’s Psa outbreak that devastated New Zealand’s kiwifruit industry and exports. Foundation claimants representing well ... More>>

ALSO:

Poison: Anglers Advised Not To Eat Trout In 1080 Areas

With the fishing season opening in just a few days (1 October 2014), anglers are being warned by the Department of Conservation(DOC) not to eat trout from pristine backcountry waters and their downstream catchments, where the department is conducting 1080 poisoning operations. More>>.

ALSO:

Quotas: MPI Swoop On Suspected Fraudulent Fishing Activity

Ministry for Primary Industries (MPI) compliance officers swooped on a Hawkes Bay fishing enterprise today to secure evidence in an investigation into suspected fraudulent activity... “The investigation involves activity throughout the commercial supply chain – catching, landing, processing and exporting.” More>>

ALSO:

Scoop Business: Fonterra Slashes 2015 Milk Payout, Earnings Tumble 76%

Fonterra Cooperative Group cut its forecast 2015 milk price payout by about 12 percent, citing weaker global dairy prices and said there is a risk of further declines given strong global milk production. More>>

ALSO:

Scoop Business: RBNZ Keeps OCR At 3.5%, Signals Slower Pace Of Future Hikes

Reserve Bank governor Graeme Wheeler kept the official cash rate at 3.5 percent and signalled he won’t be as aggressive with future rate hikes as previously thought as inflation remains tamer than expected. The kiwi dollar fell to a seven-month low. More>>

ALSO:

Weather: Dry Spells Take Hold In South Island

Many areas in the South Island are tracking towards record dry spells as relatively warm, dry weather that began in mid-August continues... for some South Island places, the current period of fine weather is quite rare. More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus

Standards New Zealand

Standards New Zealand

Mosh Social Media
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news