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

 

Wine: 20% Of Marlborough Storage Tanks Damaged By Quake

An estimated 20 percent of wine storage tanks in the Marlborough region, the country’s largest wine producing area, have been damaged by the impact of the recent Kaikoura earthquake. More>>

ALSO:

ACC: Levy Recommendations For 2017 – 2019 Period

• For car owners, a 13% reduction in the average Motor Vehicle levy • For businesses, a 10% reduction in the average Work levy, and changes to workplace safety incentive products • For employees, due to an increase in claims volumes and costs, a 3% increase in the Earners’ levy. More>>

Women's Affairs: Government Accepts Recommendations On Pay Equity

The Government will update the Equal Pay Act and amend the Employment Relations Act to implement recommendations of the Joint Working Group on Pay Equity. More>>

ALSO:

Immigration: Increase In Seasonal Workers For RSE

The current cap will be increased by 1,000 from 9,500 to 10,500 RSE workers for the 2016-17 season. Mr Woodhouse says the horticulture and viticulture industry is New Zealand’s fourth largest export industry, producing almost $5 billion in exports. More>>

ALSO:

Hurunui: Crown Irrigation Invests Up To $3.4m In North Canterbury

Crown Irrigation Investments will invest up to $3.4m in the Hurunui Water Project, an irrigation scheme that will be capable of irrigating up to 21,000 hectares on the south side of the Hurunui River in North Canterbury. More>>

ALSO:

Not So Great:Butterfly Eradication Success

The invasive pest great white butterfly has been eradicated from New Zealand in a world-first achievement, Primary Industries Minister Nathan Guy and Conservation Minister Maggie Barry say. More>>

Gordon Campbell: On The Government’s Tax Cuts Fixation

Long before the earthquake hit, the dodginess of the government tax cuts programnme was evident in the language of its packaging. It is being touted as a “tax cuts and family care” package... More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news