Dry food, cleaning wipes, dry shampoo for dogs and cats, hutches, rodent cages, bird perches… These pet products are worth billions.
Zooplus, the German site for the online sale of animal products, will be acquired for around 3 billion euros by the American fund Hellman & Friedman (H&F).
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The two companies signed an agreement to this effect on Friday, supported by Zooplus executives, who should continue to drive the company.
H&F will launch a "
voluntary takeover bid for all Zooplus shares at an offer price of 390 euros per share,
" said the German site.
A booming market
Founded in 1999, Zooplus manages an online sales platform for pet products in 30 European countries.
Based in Munich, the company claims 8 million customers in 2020. Boosted by the coronavirus pandemic and the restrictions imposed on traditional businesses, Zooplus saw its turnover jump 18% to 1.8 billion euros , in 2020.
The pet care market was already booming before the health crisis, with owners increasingly purchasing high-end products and turning to online deliveries.
When the pandemic took hold, large numbers of confined people adopted or purchased animals, boosting sales.
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“
With Hellman & Friedman, we benefit from additional industry expertise, practical support and financial flexibility,
” said Cornelius Patt, CEO of Zooplus.
On Friday, the company's stock jumped 43% after the announcement.
He had already gained 64% the day before.
VC
