Paramount has taken over 4 online retailers – Fetch, Medic Animal, Pet Supermarket, and Pet Meds, from the specialty store company.
The England-based enterprise is further strengthening its presence in the pet sector by acquiring several brands and eCommerce businesses from the online pet food and supplies retailer Paws Group.
The acquisition also includes pet food brands Bob & Lush and K9 Choice. Together these brands generated a turnover of £50 million ($60M/ €56M) in 2021.
Fetch, Medic Animal, Pet Supermarket, and Pet Meds, with a customer database of over 3 million consumers, are said to boost Paramount’s portfolio as it sees “significant group synergies” within its pet businesses.
The addition of the new subsidiaries allows the group to obtain “key data on consumer habits and trends” within the pet sector.
“The pet industry continues to entice high-level investors due to its relatively recession-proof nature, with the pandemic fuelling elevated pet ownership and premiumization driving pet product purchases,” said a statement from Paramount.
Strong partnerships
Ravi Sharma, Director at Paramount Retail Group, said that the company was “delighted” with the acquisition and believes that to succeed in the present economic environment, “expertise, scale, and strong partnerships are essential.”
Adding that this was a “very natural move” for the company allowing it to expand and drive the group’s “ambitious growth plans and fast-paced program of further strategic acquisitions.”
The Paramount portfolio includes Pet Brands – a manufacturing line of accessories and treats for pets and wild birds. Pet Brands exports to 58 countries globally and produces its own labels and licensed brands. It also owns pet products wholesaler Vital Pet Group.
In 2022, the group increased its production capability and is now manufacturing its own pet bedding in the UK.
It has also launched 3 new key ranges in treats, in addition to exclusive distribution partnerships with 2 US brands.
The group has an aggressive expansion plan to reach £200 million (£240M/ €225M) in revenue over the next 24 months.
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