Greek retailer Pet City acquired
The Greek retail chain with 80 stores has been acquired by private equity investor BC Partners.
Since its start in 1988, the family-owned business has grown to be the market leader, serving more than 3 million Greek customers. The last few years, the chain has grown double digits in sales.
Pet City has also built out a strong e-commerce platform.
BC Partners isn’t new to the pet industry. They’re also invested in US-based pet retailers/e-tailers PetSmart and Chewy, as well as VetPartners, the vet clinics operator.
Nikos Stathopoulos, Partner and Executive Committee Member at BC Partners, says: “We are pleased to add Pet City to the BC Partners family and invest in the market leader in the resilient and fast-growing pet retail sector in Greece. This is the latest investment that BC Partners has made in Greece, a country which we have been active in for over 15 years and has developed into an attractive investment destination as one of the fastest growing economies in Europe.”
Specific terms of the transaction have not been disclosed. The founding family will retain a minority share in the business.