Strategic investment in Australian business
13 June 2025
Animalcare Group plc
("Animalcare", the "Company" or the "Group")
Strategic investment in high-growth Australian Companion Animal health business
Minority stake provides opportunity to expand the Group's Asia-Pacific presence
Animalcare Group Plc (AIM: ANCR), the international animal health business, is pleased to announce that, in line with Group's geographic expansion strategy, it has acquired a 25% strategic equity stake in InVetro Pty Ltd, an Australian-based Companion Animal health business ("InVetro"), for A$3m.
InVetro will utilise the funds to accelerate investment in scaling its commercial footprint, expanding its product portfolio and developing its new product pipeline, with an agreed pathway to increased ownership by Animalcare over time.
The strategic investment expands Animalcare's presence in the growing Asia-Pacific veterinary market, building on its acquisition of Randlab completed on 3 January 2025.
About InVetro
InVetro is a development-stage Australian veterinary pharmaceutical company committed to advancing Companion Animal care. Animalcare believes that the business is poised for rapid growth over the next five years, underpinned by:
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A portfolio of pharmaceutical marketing authorisations and licences, enabling immediate and near-term revenue generation |
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A pipeline of products tailored to the needs of the Australian market |
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A highly experienced and proven management team with deep sector expertise |
Strategic Rationale
This minority equity investment offers a capital efficient opportunity for Animalcare to establish a presence in the fast-growing Companion Animal health market in Australia, with potential to access other Asia-Pacific territories over time. The Group's longer-term ambition is to build an overall Companion Animal business in the region with revenues of approximately A$20-25m.
Key benefits of the equity investment include:
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Speed to market: Immediate access to a business with regulatory approvals and infrastructure, accelerating Animalcare's entry into Australia with potential to expand across Asia-Pacific |
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Local expertise: Leverage of InVetro's established relationships, market knowledge, operational and regulatory capabilities |
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Scalable platform: A foundation for future collaboration and product distribution, with potential for increased ownership by Animalcare over time |
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Extended bridgehead: Opportunity to expand the reach of the Group's portfolio of existing Companion Animal brands into Australia and other Asia Pacific markets |
Jenny Winter, Chief Executive Officer of Animalcare commented:
"This strategic investment expands the Group's geographic footprint in the large and growing Companion Animal health market. The Australian market presents a significant opportunity, and this partnership allows us to participate in that growth with a trusted and capable team already on the ground. We look forward to supporting the business as it transitions into full-scale commercial operations and begins to maximise its potential."
Corinne Mawson and Zoe Chrysopoulos, Directors and Founders of InVetro, commented:
"At InVetro, our mission is to drive innovation in veterinary care and bring next level solutions to clinics across Australia. Our partnership with Animalcare will provide the opportunity to accelerate our portfolio and expand our market penetration. We are excited to launch trusted, global products including HCA spray (Itchderm), Orozyme, Plaqtiv+, proGlan and proHibex. Our veterinary exclusive range continues to expand, ensuring Australian veterinarians have access to the best solutions for their patients."
Principal terms of the strategic investment
Under the terms of the deal, Animalcare (through its subsidiary Animalcare Australia Pty Ltd) will subscribe for a 25% equity interest for a total cash consideration of A$3m (approximately £1.4m1). InVetro will utilise these funds to accelerate investment in scaling its commercial footprint, expanding its product portfolio and developing its new product pipeline. Revenue generation from initial products is expected to commence this calendar year, with all current products launched by the end of 2026.
Note (1) calculated using an GBP:AUD exchange rate of 2.09
Animalcare is committed, via a seat on the Board, to working alongside the existing InVetro Board and its shareholders to grow and scale the business over the next five years, with InVetro benefiting from Animalcare's global network of animal health contacts and companies, in addition to access to the experience and knowledge of Animalcare's senior leadership team.
As part of the transaction, Animalcare has agreed to arrangements that provide a pathway to acquiring a majority stake in the future. These arrangements include a call option for Animalcare to increase its holding to 51% in InVetro between 30 June 2029 and 31 December 2029, with the founding InVetro shareholders granted a put option which can be exercised from 1 January 2030 to 30 June 2030.
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014.
For more information, please contact:
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Animalcare Group Plc Jenny Winter, Chief Executive Officer |
+44 (0)1904 487 687
communications@animalcaregroup.com |
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Stifel (Nominated Advisor & Joint Broker) Ben Maddison Nicholas Harland Francis North |
Tel: +44 (0)20 7710 7600
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Panmure Liberum (Joint Broker) Corporate Finance Freddy Crossley/Emma Earl Corporate Banking Rupert Dearden |
+44 (0)20 7886 2500 |
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Alma Strategic Communications |
+44 (0)20 3405 0205 |
About Animalcare
Animalcare Group plc is a UK AIM-listed international veterinary sales and marketing organisation. Animalcare operates in seven European countries as well as Australia and New Zealand and exports to approximately 40 countries in Europe and worldwide. The Group is focused on bringing new and innovative products to market through its own development pipeline, partnerships and via acquisition.
For more information about Animalcare, please visit www.animalcaregroup.com
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