Musti Ja Mirri buys Animail, a second Swedish acquisition aimed at consolidating its pet supplies market position.
The transaction, which has the financial details undisclosed, helps the Finnish retailer get to a 20% online market share in the pet food market, while, according to CEO David Rönnberg, the e-commerce penetration benchmark in the industry is 10-12%. After this deal, Musti ja Mirri will reach $240M in yearly turnover. The company, which is owned by EQT, operates a network of 250 pet specialty stores in Finland, Sweden and Norway - offering a wide range of pet supplies, accessories, foods and adjacent pet related services.
Animail, founded in 2007 and led by CEO Alexander Olsson, had a turnover of SEK 95M ($11.2M) in 2016. The company is backed by investors such as Verdane, Nordic Etail and Optimizer Invest, all of which now exit the company.
The news comes shortly after Musti ja Mirri announced the purchasing of Vetzoo, another ecommerce company based in Sweden and also selling pet food, in a deal estimated at $30M.