A fantastic journey: Musti’s CEO says he is thrilled for the next chapter after acquisition
Flybird Holding is set to acquire the Nordic pet retailer following the positive result of its tender offer.
After the subsequent offer period, which ended on 6 March, the total number of shares validly tendered represents around 80.65% of shares and votes in Musti on a fully diluted basis.
From 26 February to 6 March, the 9,931,479 shares validly tendered represented approximately 29.75% of all the shares and votes in Musti.
“This is a significant milestone for both companies, and we are confident that this partnership will accelerate our growth path and continue to bring great value to our pet parenting community: our customers, employees and other stakeholders,” states Musti’s CEO David Rönnberg.
“We are very pleased with the success of the tender offer. The acquisition of Musti is fully aligned with Sonae’s growth strategy as it accelerates the internationalization of our portfolio into new markets through leading companies in high-growth sectors,” adds Cláudia Azevedo, CEO of Sonae, the Portuguese group behind Flybird Holding.
The new owner expects to leverage their retail experience “to accelerate the company’s growth and maximize the value proposition for its current and future customers.”
Sonae Group, which operates across various sectors, first submitted a tender in December to acquire Musti Group for €868 million ($943.6M).
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