Nestlé: raises its stake in vet clinics platform IVC
(CercleFinance.com) - Nestlé is increasing its minority stake in IVC Evidensia as part of the latest round of funding of Europe's largest veterinary care provider.
IVC said late on Tuesday that it shareholders have agreed to support its next phase of accelerating growth by injecting 3.5 billion euros in the company, in a move giving it a total enterprise value of 12.3 billion euros.
IVC said it will continue to operate as an independent business, while leveraging Nestlé's expertise in pet health, pet food and scientific innovation.
Nestlé first became a minority investor and strategic partner of IVC in 2019.
IVC said that US technology investment firm Silver Lake also made a new substantial minority investment to help further unlock growth from digital and technology opportunities.
IVC is the largest vet services platform in Europe, with over 1,500 clinics and hospitals across 12 countries, employing around 22,000 people, including over 6000 veterinarians.
Copyright (c) 2021 CercleFinance.com. All rights reserved.
IVC said late on Tuesday that it shareholders have agreed to support its next phase of accelerating growth by injecting 3.5 billion euros in the company, in a move giving it a total enterprise value of 12.3 billion euros.
IVC said it will continue to operate as an independent business, while leveraging Nestlé's expertise in pet health, pet food and scientific innovation.
Nestlé first became a minority investor and strategic partner of IVC in 2019.
IVC said that US technology investment firm Silver Lake also made a new substantial minority investment to help further unlock growth from digital and technology opportunities.
IVC is the largest vet services platform in Europe, with over 1,500 clinics and hospitals across 12 countries, employing around 22,000 people, including over 6000 veterinarians.
Copyright (c) 2021 CercleFinance.com. All rights reserved.