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

 

Maritime: Navigation Safety Review Raises Big Issues For The Govt

Shipping Federation: "The reports makes it clear that the ratification of the Maritime Labour convention (MLC) is long overdue. Only when the MLC is ratified will Maritime NZ be able to inspect and enforce the labour conditions on international ships visiting our ports." More>>

ALSO:

100 Years After Einstein Prediction: Gravitational Waves Found

For the first time, scientists have observed ripples in the fabric of spacetime called gravitational waves, arriving at the earth from a cataclysmic event in the distant universe. This confirms a major prediction of Albert Einstein’s 1915 general theory of relativity and opens an unprecedented new window onto the cosmos. More>>

ALSO:

Farming: Alliance Plans To Start Docking Farmer Payments

Alliance Group, New Zealand's second-largest meat cooperative, plans to start withholding some stock payments to its farmers from next week to bolster its balance sheet and force suppliers to meet their share requirements. More>>

ALSO:

Gambling: SkyCity First Half Profit Rises 30%, Helped By High Rollers

SkyCity anticipates the Auckland business will benefit from government gaming concessions which were triggered on Nov. 11 in recognition of SkyCity’s $470 million Convention Centre development. Morrison said the concessions would allow the Auckland business to lift its activity during peak period, noting it had a record revenue week over the Christmas and New Year period. More>>

ALSO:

Money For Light: Kiwi Scientists Secure Preferential Access To Synchrotron

Science and Innovation Minister Steven Joyce today announced a three-year investment of $2.8 million in the Australian Synchrotron, the largest piece of scientific infrastructure in the Southern Hemisphere, to secure preferential access for Kiwi scientists. More>>

Telco Industry Report: Investment Hits $1.7 Bln A Year

Investment in the telecommunications sector is $1.7 billion a year, proportionately one of the highest levels in the OECD, according to a report released today on the status of the New Zealand sector. More>>

ALSO:

PGPs: New Programme Sets Sights On Strong Wool

A new collaboration between The New Zealand Merino Company (NZM) and the Ministry for Primary Industries (MPI), announced today, aims to deliver premiums for New Zealand's strong wool sector... More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news