Zooplus, the German online pet supplies retailer, has agreed a €3bn takeover by US investor Hellman & Friedman in the latest move by a private equity group to cash in on fast-growing animal care spending by pet-loving consumers.
The €390 per share in cash offer to take the company private is a 40 per cent premium to its undisturbed share price. Following the announcement on Friday, Zooplus stock rose more than 40 per cent to above €394.
The deal comes after sales at Zooplus, one of Europe’s largest online petcare retailers, hit €1.8bn last year, up 18 per cent from 2019, propelled by a jump in pet ownership across Europe during the pandemic as lockdowns kept workers at home. Its shares are up almost 300 per cent since March last year.
Source: Financial Times
By Leke Oso Alabi and Kaye Wiggins
