My board colleagues and I want to thank Jenny for a job well done as CEO during a period where the focus was on expanding the market initiatives around the ProDen PlaqueOff® product family. As we now carry out a strategic acquisition and at the same time continue to evaluate further acquisitions, we are pleased to welcome Håkan back as CEO while with Jenny as CFO ensuring a strong financial control function. With Håkan and Jenny in Group Management and a strategically important acquisition completed, we look forward to continuing to develop Swedencare into the leading global animal health company with a growing product portfolio.
With the acquisition we are gearing up and need to strengthen both operationally and financially. With my financial background and the experience of working for several years in the US in finance functions, I look forward to working with our new American subsidiary and our larger, stronger and broader group.
I am grateful to have the chance of coming back into an operational role as I see many new and exciting opportunities with the acquisition of Stratford's operations which we are now carrying out. A prerequisite for me to accept the offer was that Jenny also thought it was a good and exciting challenge to work together again. We are an excellent team and complement each other perfectly, something that is needed now as we accelerate the pace of Swedencare's development. I have also been in contact with Stratford's MD, Brian Nugent, since 2018, and I am convinced that he and his team will be a decisive factor for us reaching or perhaps even exceeding our recently set financial targets.
With this acquisition, we are strengthening our presence and significantly expanding our product offering in the US, a market where we are seeing strong growth, while at the same time reaching a large number of new veterinary channel customers, which complements our existing channel distribution. We also strengthen the organization with a very competent and experienced management team.
Stratford management is excited to be part of a growing multinational organization with proven and experienced leadership that has created industry leading products in the oral/dental health sector.
Through the acquisition of Stratford's operations, we are advancing positions in the world's largest pet products market - the United States. We are already considered a leading company in dental products and now we are significantly expanding our product portfolio while complementing our strong position in pet and online with 10,000 customers in the vet channel. We are now taking a big step towards our financial goals.
As we have previously communicated, we significantly increase our marketing efforts and the recruitment of Sara gives us a strong and exciting leadership in this work. Sara's background, expertise and energy will contribute to continued high growth and increased global awareness of our brands, with focus on our flagship products in the ProDen PlaqueOff® product line, which is already considered the leading dental product for dogs and cats in certain markets
I look very much forward to working with Swedencare's strong brands and contributing to Swedencare's continued success in the global market. It is an interesting and exciting industry and I am impressed by the growth journey made so far and the strong position Swedencare has taken in several markets. I see tremendous potential both in the brand and the products and it is with great joy and enthusiasm that I take on the mission to develop this further
My board colleagues and I are both grateful for, and impressed by, the work and energy that Håkan has contributed to the company's development into the global and highly profitable corporate group Swedencare is today. As we now increase market initiatives while setting new long-term financial goals, I am pleased to welcome Jenny as the new CEO, through which we will have continuity in our continued work to create a leading animal health company focused on oral health
Swedencare is now entering a new phase with new goals and I feel it is time to hand over operational responsibility after almost six years. With Jenny, Swedencare gets an extremely competent CEO who knows the business well and has the energy needed to take the company to new levels and success
It has been a great pleasure to work at Swedencare together with Håkan for almost three years and during that time we have had, to say the least, a fantastic development. I take over a well-functioning organization that is built on a wonderful and competent team together with a strong brand in an exciting industry. I look forward to taking over the baton and leading Swedencare into the future
We are very pleased to be able to welcome Biovet to Swedencare. The company will have a significant impact on our position and offering on the Greek market. Once Biovet is fully included in the group we will be able to speed up the sales of our products both further in Greece and Cyprus but also in the Balkan markets which can be handled better from Thessaloniki than compared to Malmö.
We are very glad to become part of Swedencare group. Our goal is to strengthen our position in the Greek and Cypriot market. By developing new strategies we aim to increase our sales and deliver higher growth.
Over the last few years the interest to invest in Swedencare from international institutions has increased significantly. Swedencare will with DNCA and Mr. Varma, receive a new and engaged large shareholder eager to be part of our growth journey. My partners and I have been very selective when it comes to divesting parts of our shareholding and we have now an even stronger ownership set-up who are prepared to consider investing even more capital if and when interesting acquisition opportunities presents itself
The chance to invest in a relatively undiscovered quality gem of a company with solid growth prospects in all geographies comes along very rarely in this day and age. It was as such - a simple decision for us to make this investment
Spain is a market we have worked together with several partners for the Vet- and Pet market and where sales have been constant without growth. Considering the Spanish market which, similar to other markets in Europe, transforms quickly with strong growth within the Pet market compared to the Vet market, we are convinced that we will be able to deliver significantly higher growth with our own organization.
I am thrilled to announce that the important VOHC seal has been awarded to another ProDen PlaqueOff® product. This will allow this product, as well as the ProDen PlaqueOff® Dental Bites dog treat product, to be carried by veterinary practices owned by commercial companies that have a policy of offering only VOHC-accepted oral hygiene products. Dr. Gawor’s studies also showed that there was a 67% reduction in gingivitis in the PlaqueOff group compared with the control group. Swedencare looks forward to using this new scientific information to further educate pet owners about the benefits of ProDen PlaqueOff®
The acquisition provides Swedencare with the opportunity to develop flagship premises that can spearhead the Companies production and logistic activities in Ireland and several export markets all over the world. Furthermore, when finalized the cost of the new factory will not exceed our current lease costs despite providing us with a factory, customized to our needs, double the size!
Musti Group is already our most important partner in the Nordic market for the sale of our own product lines, so it is both a natural step and extremely exciting to launch a unique and new product line together. I am also convinced that we will launch other projects together to always provide our Nordic end customers with new innovative products to enable them to take the best care of their pets.
It feels great to be able to offer truly new innovations to the cat food category. Cat dental care is one of the most challenging areas in pet owners’ daily life. With the unique ProDen PlaqueOff® composition in Nutrima Cat dry foods we can offer an easy solution to all cat owners to take care of the dental health for their cats. Without the collaboration with Swedencare this would not have been possible and we are very proud and excited about this joint product development project we did together.