Pet supplies retailer Petbarn has scooped up the assets of a string of companies that collapsed into voluntary administration last month.
Animal Supplies Group, which operated businesses such as Animal Supplies Wholesale and Pet Brands Connect, called in administrators on April 14.
Vaughan Strawbridge and David Lombe from Deloitte were appointed voluntary administrators.
Animal Supplies Wholesale is one of the largest distributors of pet food, accessories and supplements in Australia, according to its website.
The business has been operating for more than 20 years and is also Australia’s largest distributor of equine products.
Animal Supplies Wholesale has ceased trading along with its sister companies, according to a circular to creditors.
This is because Petbarn purchased the assets to the Animals Supplies Group of companies on April 29 for an undisclosed amount.
All outstanding invoices will be honoured if they are accompanied by a valid purchase order, according to administrators.
Petbarn purchasing the assets to Animal Supplies Wholesale comes as its parent company, Greencross Limited, ramps up its expansion plans.
Greencross Limited announced a record half-year result of $362.7 million in revenue back in February, with earnings before tax north of $45 million.
Greencross Limited told the ASX this month its retail business is larger than its four largest specialty competitors combined, and plans to grow further thanks to a “strong pipeline” of suitable retail sites.
A spokesperson for Deloitte told SmartCompany Petbarn took on 23 employees from Australian Supply and Distribution Ltd – one of the companies within the Animal Supplies Group.
“Twenty-four were offered employment and one declined,” the spokesperson says.
“Petbarn has entered into a new lease with the landlord for the only leased premises of the companies at Eastern Creek in Sydney.”
SmartCompany contacted Greencross Limited for comment, but did not receive a response prior to publication.
*This story was updated at 12.55pm to include a response from Deloitte
Broede Carmody is a former senior SmartCompany reporter. Before this, he was a co-editor of RMIT University’s student magazine Catalyst.
