Competition Markets Authority
Phase 1
The acquisitions being investigated
The CMA has decided to investigate the following completed acquisitions by IVC:
- Penrose Veterinary Group Limited
- Kevin Castle (Pet Care) Ltd
- Swayne & Partners Ltd
- Treforest Veterinary Clinic Limited
- Mercer & Hughes Limited
- Swaffham Veterinary Centre Ltd
- Anglesey Pet Clinic Ltd
- Chiltern Equine Clinic
Statutory timetable
| Phase 1 | Action |
|---|---|
| 31 May 2023 to 14 June 2023 | Consultation proposed undertakings in lieu of reference in relation to the Treforest acquisition |
| 26 May 2023 to 12 June 2023 | Consultation on proposed undertakings in lieu of reference |
| 3 March 2023 | CMA to consider undertakings offered |
| 17 February 2023 | Decision announced |
| 20 December 2022 | Launch of merger inquiries |
| 7 December 2022 to 21 December 2022 | Invitation to comment |
| 18 November 2022 | Directions to appoint a monitoring trustee |
| 17 November 2022 | Re-issue of initial enforcement orders |
| 17 November 2022 | Revocation of initial enforcement orders |
| 31 October 2022 | Initial enforcement orders |
Undertakings in lieu of reference consultation: open
31 May 2023: The CMA is now consulting on proposed undertakings in lieu of a reference to a Phase 2 investigation offered by Independent Vetcare Limited (IVC) in relation to the completed acquisition by IVC of Treforest Veterinary Clinic Limited.
- (31.5.23)
- (31.5.23)
26 May 2023: The CMA is consulting on proposed undertakings in lieu of a reference to a Phase 2 investigation offered by Independent Vetcare Limited (IVC) in relation to the completed acquisitions by IVC of (i) .Penrose Veterinary Group Limited, (ii) Kevin Castle (Pet Care) Ltd, (iii) Swayne & Partners Ltd, (iv) Mercer & Hughes Limited, (v) Swaffham Veterinary Centre Ltd, (vi) Anglesey Pet Clinic Ltd, and (vii) Chiltern Equine Clinic. The undertakings proposed in relation to Treforest Veterinary Clinic Limited are not being consulted on at this stage.
- (26.5.23)
- (26.5.23)
- (26.5.23)
- (26.5.23)
- (26.5.23)
- (26.5.23)
- (26.5.23)
- (26.5.23)
Extension of consideration of undertakings in lieu
28 April 2023: The CMA has extended the consideration of undertakings in lieu of reference until Friday 30 June 2023.
- (28.4.23)
CMA to consider undertakings offered
3 March 2023: IVC offered undertakings to the CMA which involve divesting each of the businesses listed above (Penrose Veterinary Group Limited, Kevin Castle (Pet Care) Ltd, Swayne & Partners Ltd, Treforest Veterinary Clinic Limited, Mercer & Hughes Limited, Swaffham Veterinary Centre Ltd, Anglesey Pet Clinic Ltd, and Chiltern Equine Clinic). The CMA considers that there are reasonable grounds for believing that the undertakings offered by IVC in relation to each of the transactions under investigation, or a modified version of them, might be accepted by the CMA under the Enterprise Act 2002.
- (21.4.23)
Reference unless undertakings accepted
17 February 2023: The CMA has decided, on the information currently available to it, that it is or may be the case that each of the mergers listed above has resulted or may be expected to result in a substantial lessening of competition within a market or markets in the United Kingdom. Each of the mergers will be referred for a phase 2 investigation unless IVC offers acceptable undertakings to address these competition concerns.
- (5.4.23)
- (17.2.23)
- Press release: Takeover of eight vet businesses could increase costs for animal owners (17.2.23)
Launch of merger inquiries
20 December 2022: The CMA announced the launch of its merger inquiries by notice to IVC.
- (20.12.22)
Invitation to comment: closed
7 December 2022: the CMA is considering whether it is or may be the case that any or all of the transactions listed above have resulted in the creation of relevant merger situations under the merger provisions of the Enterprise Act 2002 and, if so, whether the creation of any of those situations has resulted, or may be expected to result in a substantial lessening of competition within any market or markets in the United Kingdom for goods or services.
To assist it with this assessment, the CMA invites comments on any or all of the transactions from any interested party, in advance of the CMAs formal investigation starting.
These comments should be provided by the deadline set out above (specifying