Ebos Group’s pet care deal off, stock to resume trading

Ebos will resume trading today.

Dual-listed wholesaler and distributor Ebos Group, which has been in talks over a possible potential transaction related to its animal care segment, said a transaction will now not proceed.

Ebos went into a trading halt last week after speculation arose that it had an interest in buying Australian pet care and veterinary company Greencross, which operates Animates in New Zealand and which has an overall valuation of $3.5 billion.

In a short statement, Ebos added that it was off to a “pleasing” start in its 2024 financial year, and that strong growth had continued following the trading update provided at its annual meeting.

For the four months to October 31, the company said its normalised revenue was up 8.2 per cent while normalised ebitda - earnings before interest, tax, depreciation and amortisation - was up 8.8 per cent, compared with the same period a year ago.

Ebos is the largest and most diversified Australasian marketer, wholesaler and distributor of healthcare, medical and pharmaceutical products in Australia and New Zealand. It is also a leading Australasian animal care brand owner, product marketer and distributor.

Ebos shares fell sharply when the company came off its trading halt.

By late morning, the stock was down $2.45 or 6.35 per cent at $36.15.

Jamie Gray is an Auckland-based journalist, covering the financial markets and the primary sector. He joined the Herald in 2011.