Musti ja Mirri Group Oy gets bought by EQT.

Musti ja Mirri Group Oy, a Helsinki, Finland-based company operating a Scandinavia-based pet specialty stores chain, announced getting into an agreement with EQT for selling the company. The transaction, which has the financial details undisclosed, was made through EQT Mid Market Fund from funds managed by Vaaka Partners Oy, a Finnish private equity firm. The management team of Musti ja Mirri will co-invest and partner with EQT Mid Market to continue drive the growth and development of the Company.

Musti ja Mirri is a fast growing specialty retailer of pet food and accessories. Musti ja Mirri operates 127 stores of which 106 are located in Finland and 21 in Sweden. The successful and well-developed retail concept is based on a wide assortment of pet food and accessories in combination with a strong culture of dedicated, knowledgeable and service minded employees.

Musti ja Mirri was established in 1988 in Finland and entered the Swedish market in 2012 through an acquisition of Grizzly Zoo, a Swedish retailer of pet food and accessories (founded in 2006 by two entrepreneurs still active in the company). Pro forma sales in the year to September 2014 amounted to EUR 81 million and pro forma EBITDA was EUR 7.6 million in the same period.