Pets at Home Group Plc has responded to the Competition and Markets Authority's (CMA) announcement of a potential investigation into the UK vet sector. The company expressed disappointment in the CMA's approach but stated its commitment to cooperating with the consultation process until April 11, 2024. Pets at Home emphasized the unique aspects of its model, including clear national branding for its practices and the complete clinical autonomy of its independent practice owners.
The company highlighted that it has no exposure to other verticals within the UK vet industry, having sold its specialist referral division in 2021. Pets at Home also emphasized its growth strategy as pro-competitive, introducing new competition and consumer choice into the UK vet sector. The company expects no impact on its growth strategy or ambitions, citing the high-quality growth the business is experiencing.
Pets at Home Group Plc is the UK's leading pet care business, providing pets and their owners with advice, products, and care. The company operates over 450 pet care centers, many of which have vet practices and grooming salons, as well as a leading small animal veterinary business with over 440 veterinary general practices. For more information, visit https://www.petsathomeplc.com/.
The company provided contact information for investor relations and media inquiries. Additionally, a disclaimer was included, stating that the trading statement does not constitute an invitation to underwrite, subscribe for, or otherwise acquire or dispose of any Pets at Home Group Plc shares or other securities. It also cautioned against placing reliance on forward-looking statements included in the document.
Overall, the response from Pets at Home Group Plc to the CMA's announcement emphasizes the company's commitment to cooperation and its confidence in its business model and growth strategy despite the potential investigation into the UK vet sector.