Swedencare AB (publ) acquires the Greek pet healthcare distributor Biovet
Swedencare AB (publ) (“Swedencare”) have per October 1st acquired the Greek pet healthcare distributor Biovet I.K.E. (“Biovet”), which offers both pet healthcare products as well as equipment to veterinarians on the Greek and Cypriot markets. The purchase price of 551 000 Euro includes a cash payment of 350 000 Euro as well as 201 000 Euro in 31,358 new issued shares of Swedencare AB.
Biovet was founded in Thessaloniki in 2005 by the well-known veterinarian Dr. Vasilios Phychogios. Since 2012 the company is managed by the main owner, Ioanna Psychogiou. Biovet is today a well-reputed company with a sales organization which covers the entire Greece and Cyprus. The company have since a few years successfully distributed Swedencare’s ProDen PlaqueOff® line and also started selling NutriScience products.
After the acquisition the founder Vasilios Psychogios and the current Managing Director Ioanna Physchogiou will remain in their positions where Vasilios Phychogios will be a spokesperson for the company and its products in mainly veterinarian forums.
Biovet had revenues of 653 000 Euro in 2018.
“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.”
- Håkan Lagerberg, CEO Swedencare
“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.”
- Ioanna Psychogiou, MD Biovet
For more information, please contact:
Håkan Lagerberg, CEO Swedencare
Phone: +46 (0)73 517 0170
Email: hakan.lagerberg@swedencare.se
Jenny Graflind, CFO Swedencare
Phone: +46 (0)73 944 8554
Email: jenny.graflind@swedencare.se
FNCA Sweden AB is the Certified Adviser of the Company
Phone: +46 (0)8 528 00 399 Email: info@fnca.se
Please visit the Company homepage www.swedencare.se
About Swedencare
Swedencare develop, produce, market and sell premium products on the global and fastgrowing market within animal healthcare for cats, dogs and horses. The product groups ProDen PlaqueOff and NutriScience are represented on approximately fifty markets in all parts of the world, including the headquarter in Malmö, six subsidiaries in the Nordics, United States, France, Spain, Great Britain and Ireland and through an external distribution network. Swedencare’s sales have increased significantly over the last few years with strong margins and results. The board of directors and the management have a wide and extensive experience of international marketing and sales.
About Biovet
Biovet provides complete solutions that can cover the needs of veterinary, pet shop and grooming customers. The company provides a wide range of animal health products, veterinary and grooming equipment as well as consumables and pet accessories. It distinguishes itself on quality against its competitors and has easily maintained this distinction by using contemporary marketing and sales techniques.
The information was submitted for publication, through the agency of the contact person set out above, at 13:30 CET on October 2nd, 2019.