Italian players join to create a new pet group

Under the ownership of private equity fund Mindful Capital Partners (MCP), Italian pet accessories company Croci has acquired 100% of Camon, a Verona-headquartered distributor and producer of high-quality pet products.

The integration will create a “complete group” in terms of distribution channels, as it is expected to have a presence across leading international specialized chains, independent stores and pharmaceutical channels.

Croci’s existing structure is expected to position the new group for acceleration across online channels and international markets. Camon will also benefit from the collaboration by strengthening its presence at a national level and expanding its relevance in the pet care and accessories segment at a European level.

With joined capabilities, the group hopes to hit revenue of €100 million ($109.2M) in the near future.

Sharing synergies

The addition of Camon is expected to increase Croci Group’s turnover from €50 million ($54.6M) to €85 million ($92.8M).

It will also supplement Croci’s entry into the functional food segment, which is believed to be experiencing “strong growth.”

“With the entry of Camon into the group, we achieve the objective of absolute leadership in the Italian market, and we bring further acceleration to international markets by aiming for leadership in the European one,” notes Dario Croci, CEO and founder of Croci Group.

Roberto Canazza, Founder and CEO of Camon, will act as an investor in the new team. He will also keep an important position in the operations management division.