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

 

BusinessDesk: SkyCity Lifts Minimum Convention Centre Investment To $430M

SkyCity Entertainment Group, the casino operator, has lifted the minimum it will invest in the Auckland International Convention Centre to $430 million and said total costs including land may be $450 million to $470 million. More>>

Statistics: Drop In Dairy Prices Leads Fall In Exports

Total goods exports fell $240 million (5.5 percent) to $4.2 billion in April 2015 compared with April 2014, Statistics New Zealand said today. More>>

BusinessDesk: APN's NZME Sees Future In Paywalls, Growth In Digital Sales

APN News & Media has touted a single newsroom concept for its NZME unit in New Zealand, similar to what Germany's Die Welt uses, saying an 'integrated sales proposition' is helping it win market share, including ... More>>

Labour Party: Global Milk Prices Now Lowest In 6 Years

The latest fall in the global dairy price has brought it to the lowest level in six years and shows there must be meaningful action in tomorrow’s Budget to diversify the economy, says Labour’s Finance spokesperson Grant Robertson. “Dairy prices ... More>>

BusinessDesk: NZ Inflation Expectations Creep Higher In June Survey

May 19 (BusinessDesk) - New Zealand businesses lifted their expectations for inflation over the next two years, sapping any immediate pressure on the Reserve Bank to cut interest rates, and prompting the kiwi dollar to jump higher. More>>

BusinessDesk: Lower Fuel Costs Drive Down NZ Producer Input, Output Prices

May 19 - Producer input and output prices fell in the first quarter, mainly reflecting lower fuel costs and weakness in prices of meat and dairy products. More>>


Media: Fairfax Media NZ Announces Senior Editorial Team

Fairfax Media New Zealand has today confirmed its new editorial leadership team, as part of a transformation of its newsrooms aimed at enhancing local and national journalism across digital and print. More>>

Science: Flavonoids Reduce Cold And Cough Risk

Flavonoids reduce cold and cough risk Research from the University of Auckland shows eating flavonoids – found in green tea, apples, blueberries, cocoa, red wine and onions – can significantly reduce the risk of catching colds and coughs. The research, ... More>>

BusinessDesk: RBNZ House Alert Speech The Catalyst For Government Action

Prime Minister John Key all but conceded that pressure from the Reserve Bank of New Zealand for concerted action on rampant Auckland house prices was one of the main catalysts for the government's weekend announcements about tightly ... More>>

BusinessDesk: How To Fall Foul Of The New Housing Tax Rules: Tips From IRD

Just because you rented out your investment property doesn't absolve you from paying tax, says the Inland Revenue Department in a summary of commonly made mistakes by non-professional property investors when it comes to their tax liability.More>>

Legal: Superdiversity Law, Policy And Business Stocktake Announced

Mai Chen, Managing Partner at Chen Palmer New Zealand Public and Employment Law Specialists and Adjunct Professor of Law at the University of Auckland, today announced the establishment ... More>>

Housing: More House Price Gains Expected

House price expectations remain high, with a net 56% of respondents expecting house prices will increase. Fears of higher interest rates are fading, consistent with the RBNZ’s signals this year. Affordability and a lack of houses for ... More>>

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news