Hellman & Friedman launches take over on Zooplus
The German group is one of the major European operators in pet food
Private equity group Hellman & Friedman has announced the launch of a favorable public offering on the shares of Zooplus, one of the largest online pet retailers in Europe, listed in Frankfurt, valued at around 3 billion euros. The German company's board and supervisory board welcomed the proposed acquisition and intend to recommend that shareholders accept it. The offer, aimed at delisting, provides for a cash consideration of 390 euros per Zooplus share.
“The fast-evolving European pet market will provide significant opportunities for players, who master the continued shift towards online, match and exceed evolving customer expectations and increase the product and service choice relevant to pet lovers. With Hellman & Friedman, we gain additional sector expertise, hands-on support, financial flexibility and long-term focus needed to seize this unique market opportunity better and more effectively. We are convinced that the current market environment requires a clear focus on winning the category in the long run by prioritizing sustainable growth and value creating investments ahead of short- and midterm earnings, a strategy fully backed by Hellman & Friedman”, said Dr. Cornelius Patt, CEO of Zooplus.
Zooplus' sales in 2020 amounted to 1.8 billion euros, a value that according to the company represents 7% of the European pet food market (over 28 billion euros).
EFA News - European Food Agency