Nestlé is set to increase its stake in veterinary services provider IVC Evidensia.
No terms of the agreement have been disclosed, with the world's largest food company set to remain a minority shareholder of IVC.
As per the terms of the agreement, Nestlé Purina PetCare EMENA (Europe, Middle East, North Africa) and IVC will continue their collaboration focusing on delivering advanced pet food solutions and pet care services, Nestlé said in a statement.
IVC was established in 2011, and is a veterinary services provider with a network of more than 1,500 clinics and hospitals and approximately 22,000 employees across Europe. More than three million pet owners access its services.
The agreement is subject to customary regulatory approvals.
© 2021 European Supermarket Magazine – your source for the latest retail news. Article by Conor Farrelly. Click subscribe to sign up to ESM: The European Supermarket Magazine.