EQT's Musti ja Mirri buys Animalia

Earlier in November, Musti ja Mirri acquired Swedish online pet supplies retailer VetZoo for an estimated €22-27m.

EQT acquired Musti ja Mirri from Vaaka Partners in December 2014, drawing equity from its €1.1bn EQT Mid Market fund.

Since EQT's investment, Musti ja Mirri has expanded from Finland into Norway and Sweden. In that time, its sales and profitability have both almost doubled from an EBITDA of €7.6m and €81m in turnover in 2014 to €14m and €154m respectively for 2016.

This growth has been partly organic and partly driven by acquisitions, including the purchase of Zoo Support, the owner of Swedish pet care retailers Arken Zoo and DjurMagazinet, from Braganza.

Company
Founded in 2007, Animail is an online pet food and accessory retailer based in Sweden. It carries around 60 feed brands, as well as offering pet toys, treats and other accessories for dogs, cats, fish, birds, reptiles and other small animals. The company delivers to customers across the Nordic region.

Animail posted a turnover of around SEK 2bn in 2016, according to Danish business daily Dagens Industri.

People
EQT Partners – Johan Dettel (partner).
Musti ja Mirri – David Rönnberg (CEO).
Animail – Karl Prytz (CEO).

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• Topics
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• Sweden
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