The New Year has brought a host of fresh opportunities for Masham, North Yorkshire-based firm, Ritchey, with the acquisition of veterinary pharmaceutical business, Animalcare, formerly owned by animal genetics company, Genus.

 

From 8am on January 16, 2008, Animalcare Group plc will be the new name for the combined operations of Ritchey, Travik, Fearing and Animalcare, which was purchased for up to £14m by Ritchey last November. Although the Ritchey name will no longer feature in the company title, the brand name will be retained for marketing purposes. Finance to support the acquisition was provided by the Barclays Leveraged Finance Team in Yorkshire.

 

 

Animalcare Group chief executive, Simon Riddell commented that the move represented a big step forward for both Ritchey and Animalcare.

 

“We are all delighted, as well as excited by the prospect of the new challenges ahead,” said Mr Riddell. “Animalcare Group’s admission to the AIM exchange will offer fresh opportunities, and we are very pleased that major investors have chosen to back our organisation.”

 

“Animalcare commands a strong position in the companion animal market and has excellent growth potential.  We look forward to working with the Animalcare team in the future.”

 

Mr Riddell added that the newly formed Animalcare Group had ambitious plans for increasing sales through its established customer base and distribution network. It would also broaden its product range, enter new markets and look for additional acquisitions, he said.