Animalcare Group PLC, a U.K.-listed pharmaceutical company, announced Tuesday that its Australian subsidiary, Animalcare Australia Pty Ltd., has entered into a conditional share purchase agreement to acquire Randlab, a leading Australian equine veterinary business, for 120 million Australian dollars ($79 million). This acquisition is part of Animalcare’s strategy to broaden its product portfolio and strengthen its global market presence.
Strategic Acquisition in the Equine Market
Randlab, a prominent player in the Australian equine healthcare sector, produces a range of prescription and over-the-counter veterinary products for horses, including antibiotics, sedatives, and anesthetics. The company generates approximately 85% of its total sales through its main trading entity, Randlab Pty Ltd., with additional revenue from its New Zealand subsidiary and a small presence in the UAE.
Jenny Winter, CEO of Animalcare Group, expressed enthusiasm about the acquisition, highlighting Randlab’s position as a market leader in the growing equine sector. “Not only will this acquisition elevate the group’s offering in the equine market, but it will also open up broader opportunities in a commercially and regulatorily-aligned business environment,” Winter said.
