The combined turnover of both Spanish pet retailers was approximately €60 million ($64.4M) in 2022.
Spanish pet retailer CrazyPet, part of holding company Grupo Ibérica, has become the majority shareholder of Miscota.
The merger will result in the formation of the second biggest company in the pet retailing sector in the Mediterranean country, with 81 stores—60 of which are owned and 21 are franchises—and a workforce of 400 employees.
Both companies will maintain their own identities as a result of the operation. CrazyPet will continue operating in shopping malls and business parks and Miscota in convenience stores.
A good opportunity
Grupo Ibérica’s CEO Fernando Núñez Lirio says that agreement is a good opportunity for the group and that the merger will consolidate the CrazyPet project and give more value to Miscota.
Óscar Alonso, CEO of CrazyPet, adds that the objective of the takeover is “to enhance the concept of offering a complete and professional service at a national and international level.”
Miscota hopes that partnering with Grupo Ibérica will allow them to improve their position in Spain and expand their international footprint.
More about the companies
CrazyPet opened its first store in the Spanish province of León in 1990. Since then, it has operated in multiple locations across Spain, including Madrid, Galicia, Bilbao and Santander.
Miscota produces its own products, including pet accessories, and aims to open 400 shops by 2024.
GlobalPETS interviewed in 2022 Ignacio Serrat, former CEO of Miscota – then known as Buddy-, who said that the company was focusing on digital acceleration, with online retail accounting for 60% of its sales at the time.
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