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Pets at Home sells five Specialist practices for up to £100m
1st Dec 2020 07:15
(Sharecast News) - Pets at Home said it had sold five of its Specialist referral practices to Linnaeus Group for up to £100m in cash.
The pet care group on Tuesday said the deal included an £80m upfront payment and the balance dependent on meeting future financial milestones.
Linnaeus Group, a subsidiary of Mars Veterinary Health, operates more than 150 veterinary clinics across the UK.
Proceeds from the sale would be used for general corporate purposes, Pets at Home said. The disposal is expected to complete in the first quarter of 2021.
The pet care group on Tuesday said the deal included an £80m upfront payment and the balance dependent on meeting future financial milestones.
Linnaeus Group, a subsidiary of Mars Veterinary Health, operates more than 150 veterinary clinics across the UK.
Proceeds from the sale would be used for general corporate purposes, Pets at Home said. The disposal is expected to complete in the first quarter of 2021.