Tru-Test makes significant UK acquisition

Tru-Test makes significant UK acquisition

Tru-Test Group, the New Zealand-based world leader in electric fencing, animal weighing and milk metering equipment has made a significant investment in the UK.

The company has purchased the business and assets of Ritchey, and the shares of Fearing. Both UK businesses were owned by UK-listed Animalcare Group Plc, which is divesting to focus on their core veterinary and medical supplies activity.

The acquisitions will give Tru-Test Group a base in Europe to better serve its UK and continental Europe customers, consistent with its existing New Zealand, Australian, Mexican and North American divisions. Until now Tru-Test Group has operated in Europe solely via distribution companies.

Tru-Test Group has had a 15 year relationship with Animalcare, and both Ritchey and Fearing have long track records as distributors of Tru-Test Group products. This relationship was an important aspect in the purchase decision, Tru-Test Group managing director Greg Muir said.

Mr. Muir said the purchase was a major growth opportunity, both within the existing UK market as well as in the wider European market and international export markets.

“The two companies closely align to our own core business areas and by combining the experience and expertise of all three businesses, we believe we will see significant growth both in the UK and Europe as well as internationally.”

With the purchase, Tru-Test Group’s annual turnover will surpass NZD$100 million.

Tru-Test Group manufactures and sells livestock management and electric fence equipment in approximately 70 countries world wide. Brands within the Tru-Test Group family include; Pel, Stafix, Speedrite, Patriot, Hayes and Tru-Test.

ENDS

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