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City Farmers sold

 

City Farmers CurrambineThe company behind Petbarn stores and Greencross vets is expanding into Western Australia with a $205 million takeover of petcare retailer, City Farmers.

Greencross’ purchase of City Farmers from private equity owners will add 42 stores to its network, taking its total number to 177, plus 108 vet clinics.

The company also said sales in its Petbarn business had grown by 6.9 per cent so far this financial year, and by six per cent in its Greencross vet clinics.

Greencross will fund its takeover of City Farmers by offering new shares to the former owners, existing Greencross shareholders and institutional investors.

AAP

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