Pets at Home has announced the acquisition of the joint venture practice business, Vets4Pets, adding 93 stand-alone veterinary practices to the 116 in-store practices it already operates under the Companion Care brand.

Providing veterinary and grooming services to consumers is seen as the way for the retailer to overcome competition from the Internet.

Nick Wood, CEO of Pets at Home said: "The expansion of our veterinary business is a key element of our growth strategy for Pets at Home, providing additional services to our customers within our stores or close to our customers' homes. The acquisition of Vets4Pets is an important step in the delivery of this strategy. Vets4Pets is highly complementary to Companion Care, sharing fundamental beliefs and values, and is an excellent strategic fit for Pets at Home. I am delighted that Peter Watson has agreed to stay with the business. His knowledge and experience will be invaluable as we continue to build our veterinary business with both stand-alone and in-store practices. He will work closely with Jane Balmain, the Managing Director of our Companion Care business as we integrate the two businesses."

Peter Watson, Founder and CEO of Vets4Pets said: "Pets at Home holds a unique place in the retail landscape, built on a strong identity and a real passion for people and pets. It is clear to me that Nick and his team have a similar vision for their veterinary business. I'm delighted to be working with Nick to continue to expand the veterinary business by offering attractive joint venture opportunities for vets in stand alone locations to complement the offering in Pets at Home stores."

Companion Care MD, Jane Balmain added: "Companion Care and Vets4Pets each enjoy a strong reputation among both vets and customers. Both businesses have a common business model, offering joint venture partnerships with vets. I am looking forward to working alongside Peter as we bring the businesses together, continue to expand our joint venture partnerships and accelerate our growth."

Vets4Pets' UK operational centre will remain in the East Midlands, with its support functions being split between Companion Care's operation in Oxfordshire and Vets4Pets' Guernsey office.

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