Brazilian electronic player Multi sells pet business

Multi Group, formerly known as Multilaser, has announced the sale of its pet unit to Group Bun for R$15 million ($2.7M/€2.4M).

The São Paulo-based group is one of the 200 largest Brazilian companies, and its pet business consists of a portfolio of pet hygiene mats. The sale includes the transfer of machinery, stocks, inventory, brands and related contracts.

According to Multi, the divestment of the pet unit represents a “strategic move” to optimize the company’s portfolio.

“This one-off divestment is aligned with the Company’s focus on capital allocation and directing investments to its other business units,” says Richard Ku, Chief Financial and Investor Relations Officer.

The transaction is now subject to approval by the Brazilian Administrative Council for Economic Defense (CADE) and other customary closing conditions.

Company background

Primarily focused on computer and consumer electronics, Multi entered the pet business with the acquisition of Expet, a brand of hygiene mats, in 2021.

At the time, the group decided to create its own brand, called Mimo, to integrate pet products and technology.

The Bun Group, the buyer of the unit, is a conglomerate formed by 3 companies: the mining and processing firm Bentonit, the mining and chemistry company Buntech, and the pet food and litter producer Kelco Pet Care.

Financial update

Multi’s pet business was part of its specialized retail unit, also comprising health care, toys and baby. In the second quarter of 2025, it accounted for 11.7% of revenue, behind corporate (supply of devices to companies and the Brazilian government) with 50.5% and tech retail with 37.8%.

Although the segment posted double-digit growth in net revenue for the quarter (36.6%) compared to the first half of the year and 8% compared to last year, Multi attributed the strong performance primarily to the growth in sales and margins of health care and toys.

In total, the group reported a 5.1% year-on-year (YoY) increase in net revenue, reaching R$929.7 million ($173M/€148.7M) in Q2 2025. Net profit for the period was R$19.8 million ($3.7M/€3.2M), a considerable increase compared to the net loss of R$52.2 million ($9.7M/€8.4M) recorded during the same period last year.

From photocopy to IT business

Multi was founded in 1987 to operate in the photocopying business. In 2004, it expanded its operations into the IT sector, launching a line of electronic devices that became popular in the country in the following decades. In 2021, the company held its IPO on the Brazilian stock exchange.

In 2022, Multi Group started to expand internationally. Currently, it operates in most of North and South America, Europe (Portugal, Spain and the UK) and Africa (Angola and Moçambique).

According to the company’s institutional website, the group has 8 proprietary brands and 12 partner brands, 2 factories with distribution centers in Brazil and a laboratory in China.

In March, Multi changed management and appointed the then Vice President of Business, André Poroger, as its CEO.