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: Equity Crowd Funding Carries Risks, High Failure Rate

Equity crowd funding, which became legal in New Zealand this month, comes with a high risk of failure based on figures showing existing forays into social capital have a success rate of less than 50 percent, one new entrant says. More>>

ALSO:

Scoop Business: NZ Migration Rises To 11-Year High In March

The country gained a seasonally adjusted 3,800 net new migrants in March, the most since February 2003, said Statistics New Zealand. A net 400 people left for Australia in March, down from 600 in February, according to seasonally adjusted figures. More>>

ALSO:

Hugh Pavletich: New Zealand’s Bubble Economy Is Vulnerable

The recent Forbes e-edition article by Jesse Colombo assesses the New Zealand economy “ 12 Reasons Why New Zealand's Economic Bubble Will End In Disaster ”, seems to have created quite a stir, creating extensive media coverage in New Zealand. More>>

ALSO:

Thursday Market Close: Genesis Debut Sparks Energy Rally

New Zealand stock rose after shares in the partially privatised Genesis Energy soared as much as 18 percent in its debut listing on the NZX, buoying other listed energy companies in the process. Meridian Energy, MightyRiverPower, Contact Energy and TrustPower paced gains. More>>

ALSO:

Power Outages, Roads Close: Easter Storm Moving Down Country

The NZ Transport Agency says storm conditions at the start of the Easter break are making driving hazardous in Auckland and Northland and it advises people extreme care is needed on the regions’ state highways and roads... More>>

ALSO:

Houses (& Tobacco) Lead Inflation: CPI Up 0.3% In March Quarter

The consumers price index (CPI) rose 0.3 percent in the March 2014 quarter, Statistics New Zealand said today. Higher tobacco and housing prices were partly countered by seasonally cheaper international air fares, vegetables, and package holidays. More>>

ALSO:

Notoriously Reliable Predictions: Budget To Show Rise In Full-Time Income To 2018: English

This year’s Budget will forecast wage increases through to 2018 amounting to a $10,500 a year increase in average full time earnings over six years to $62,200 a year, says Finance Minister Bill English in a speech urging voters not to “put all of this at risk” by changing the government. More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news