Jenny Winter, CEO of Animalcare, expressed strong enthusiasm for the acquisition, calling Randlab a “market-leading” asset poised for substantial earnings in an expanding sector. She added that the deal would significantly enhance Animalcare’s equine market presence and open new commercial opportunities in an aligned regulatory environment.
Randlab’s Role in the Equine Healthcare Market
Randlab specializes in the production of veterinary drugs for horses and other equine species, offering both prescription and over-the-counter products such as antibiotics, sedatives, and anesthetics. Randlab’s primary trading company, Randlab Pty Ltd., accounts for 85% of its total sales, with additional revenue generated from its New Zealand subsidiary and a modest presence in the UAE.
Angelo Vasili, CEO and Managing Director of Randlab, expressed confidence in Animalcare’s ability to continue fostering Randlab’s unique offerings in Australia, New Zealand, and the UAE, adding that the company’s acquisition by Animalcare was the right fit for both businesses.
Market Potential and Future Growth
The global equine healthcare market is on a promising growth trajectory, with Grand View Research estimating the market size at $3.4 billion in 2023. The sector is projected to grow at a compound annual growth rate of 8.32% between 2024 and 2030, driven by advancements in research and development, increasing equine health issues, and the rise of artificial intelligence in the field.
Animalcare’s Ongoing Expansion Strategy
The acquisition of Randlab aligns with Animalcare’s broader strategy of expanding its product offerings and presence in the rapidly growing equine healthcare market. Earlier this year, the company sold its majority stake in pet microchipping business Identicare Ltd. for £24.9 million ($31.5 million) to focus on its core veterinary business.
