Growing veterinary group swoops for online retailer
VetPartners has taken a step towards the digital transformation of the veterinary sector by acquiring online retailer VetUK.
VetUK is one of the UK’s biggest online suppliers of pet care products, including toys, accessories, pet food, over-the-counter pet treatments, and veterinary prescription medicines.
The Thirsk-based company was established in 2005 as a licensed supplier of pet medications in the UK and mainland Europe. During that time, VetUK has handled 3.5million online orders and dispatches 2,500 to 3,000 orders every day.
Having its own online pharmacy and retail business will enable York-based VetPartners to expand its services for clients at its 160 practices with more than 500 sites across the UK.
VetPartners CEO Jo Malone said: “Before the pandemic, pet care was one of the fastest-growing e-commerce categories, and VetUK were helping to lead the way because of the fantastic service they provide pet owners.
“This has increased further during the pandemic, with customers seeking more convenience.
“Sales of essentials like pet foods and medicine have surged during lockdown, partly due to the huge increase in pet ownership, and we want to improve our client experience by enabling them to order products online like so many other sectors.
“The team at VetUK are passionate about what they do and we look forward to working with them and further developing VetUK.”
VetUK was established by managing director Iain Booth to increase the availability of medications and reduce the cost of pet ownership, whilst maintaining the highest standards of veterinary care for both client and pet.
The company sells more than 7,500 items, which is increasing weekly, and has 38 employees.
In recent years, it has invested heavily in its site and associated dispatch software to provide customers with a high quality service.
VetUK saw sales grow by 45% in 2020 as more people ordered online.
Booth said: “Joining VetPartners is exciting for VetUK as we will be taking the company to a new level and it will open up a new customer base for both parties.
“People want products at the push of a button and that has accelerated during the pandemic as four to five years’ growth for us was condensed into one year.”
The acquisition marks further diversification by VetPartners after the veterinary group continued its expansion last month by acquiring Pet Cremation Services, which has a national network of pet crematoria providing a cremation service for the clients of UK veterinary practices.
VetPartners’ expansion is supported by international investment company, BC Partners, which has 17 billion Euros of assets under management in private equity and credit across the globe.
VetPartners was advised by Mills & Reeve, BDO and Lambert Smith Hampton. VetUK were advised by Opus Corporate Finance, Berwins Solicitors and Lithgow Perkins.
