Animalcare Group Plc (ANCR.L), a veterinary pharmaceutical company, Tuesday said its Animalcare Australia Pty Ltd has agreed to acquire Randlab, a privately owned, Australian-based equine veterinary business for an enterprise value of A$120 million.
The acquisition is estimated to increase earnings by at least 20 percent in fiscal 2025.
As per the deal, Animalcare Australia Pty Ltd has agreed to acquire the entire share capital of Randlab Australia Pty Ltd, Randlab Pty Ltd and Randlab Middle East Veterinary Medicine Trading Single Owner L.L.C.
Randlab Pty Ltd has generated revenue of A$22.9 million in fiscal 2024 and a 3 year CAGR of 13 percent.
The company said that the acquisition, which is expected to be closed in early January 2025, will be funded through Animalcare's existing cash resources, debt facilities, and an equity placing.
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