IVC/multiple independent veterinary businesses

CMA invites comments on merger remedies

The Competition and Markets Authority (CMA) has opened a consultation on undertakings in lieu of reference proposed by Independent Vetcare Limited (IVC) to address competition concerns over its acquisitions of the following independent veterinary businesses:

(a)     Penrose Veterinary Group Limited (Penrose);

(b)     Kevin Castle (Pet Care) Limited (Pet Care);

(c)     Swayne & Partners Topco Limited, including Swayne and Partners Holdings Limited and its wholly owned subsidiary Swayne and Partners Limited (Swayne);

(d)     Mercer & Hughes Limited (Mercer & Hughes);

(e)     Swaffham Veterinary Centre Limited (Swaffham);

(f)      Anglesey Pet Clinic Ltd (Anglesey), and

(g)     Chiltern Equine Clinic, including Chiltern Veterinary Services Limited and Chiltern Bury Farm Limited (Chiltern).

The undertakings proposed in relation to Treforest Veterinary Clinic Limited (Treforest) are not being consulted on at this stage.

On 17 February 2023, the CMA announced that it would refer the acquisition for in-depth investigations unless IVC offered acceptable undertakings to address the CMA's concerns in relation to each of the Mergers listed above.

To address the CMA's concerns, IVC has offered to divest each of the above listed Targets as viable and standalone businesses with an upfront buyer.

On 3 March 2023, the CMA announced that it would look in detail at these undertakings. The CMA has until 30 June 2023 to consider whether to accept the undertakings, or a modified version of them. As part of this process, the CMA is now consulting publicly on whether the proposals are sufficient to address the CMA's competition concerns.

Before reaching a final decision, the CMA is therefore inviting interested parties to make their views known. The deadline for responses is Monday 12 June 2023.

The consultation on the undertakings and all other information relating to these merger investigations can be found on the case page at https://www.gov.uk/cma-cases.