Greencross Limited (GXL) is Australia’s largest provider of veterinary services and pet care retailing. In 2014, GXL acquired Mammoth; the owner of Petbarn and Animates. ABS stats indicate that c. 63% of people now own pets, with c. 60% of those considering their pet a member of the family. This trend is reflected in pet related sales growth of 5% outpacing the broader retail market at 3.5%. The company has a clear strategy to consolidate the fragmented pet care industry. Greencross currently accounts for 8% of the pet retail market and 5% of the vet clinic market. The goal is to grow their market share in both these markets to 20%. At the recent AGM, the company highlighted an acceleration of their roll-out strategy now boasting 221 retail pet stores and 155 vet clinics. Full note attached.
Founded in 2003, Leyland Private Asset Management is an independently owned firm specialising in Australian Stock Market and Fixed Interest Investments for individuals, companies, self-managed super funds, institutions and family offices.
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