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The UK Competition & Markets Authority on Monday announced that it has accepted undertakings from Norfolk-based veterinary services firm CVS Group PLC in return for its acquisition of Quality Pet Care Ltd.
As a result, the UK watchdog will not refer the deal to a phase two investigation, giving it the all-clear.
In March, the CMA said it could clear the acquisition following the offer of undertakings from CVS, including the divestment of the entire The Vet business. The CMA gave itself until July 1 to make its decision.
In August 2021, CVS announced its acquisition of Quality Pet Care, which trades as The Vet for £20.4 million. However in September, the UK CMA had opened an investigation into the deal, and in February had judged that the acquisition would reduce competition in Bristol, Nottingham, Portsmouth, Southampton and Warrington.
Shares in CVS Group were up 2.7% at 1,717.00 pence on Monday midday in London.
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