Latest acquisitions in the Spanish pet space

The multinational consumer goods and pet food company Agrolimen acquired American fresh dog food producer Ollie on 6 February. The deal increases the company’s pet portfolio, which includes Nature’s Variety in the US and Affinity Petcare in Europe. 

Ollie will continue to operate as an independent brand, it says, maintaining a dedicated leadership team and operations, “while gaining access to additional capabilities, resources and expertise.” 

According to US media, the deal valued the brand at over $600 million (€506M). GlobalPETS contacted Ollie for more information, but the company declined to comment on further details. In comparison, Freshpet – one of the leaders in the sector – has a market cap of $3.3 billion (€2.7B).

Breathing room for investment

The acquisition brings renewed breathing room for investment in expanding capabilities. “The transaction allows us to scale our mission faster and further than ever before […] through disciplined growth, exceptional products and innovative customer technology such as our AI-powered health screenings,” says Ollie’s CEO, Nick Stafford. 

Founded in 2016, Ollie has received investment over the years to support the launch and scale of fresh food products and to build a national cold-chain infrastructure. 

Ollie’s platform also offers AI-powered health screening technology, backed by veterinary expertise, to inform personalized care and nutrition plans. 

Fresh food momentum

The deal comes at a time when companies and brands are betting on fresh offerings – such as Blue Buffalo and Chewy in the US – and demand for high nutrition increases.

For instance, in the US, NielsenIQ data show double-digit growth in refrigerated and frozen dog food, up $208 million (€181M) in the past year. 

And research firm Technavio estimates a $3.2 billion (€2.8B) market expansion from 2025 to 2029, at a compound annual growth rate of 21.2%.

Nuzoa expands in Portugal

NUZOA, a distributor of animal health products and services, also acquired AGROFAUNA, a seller of pet medicines and food based in Porto, to strengthen its leadership in the Iberian Peninsula. 

“Although we already export and have an international presence thanks to our pet accessories business (NAYECO), the acquisition of AGROFAUNA represents a further step towards the company’s internationalization,” says CEO Ramón Esteban Gavín.

According to the company, existing partnerships and agreements with suppliers, customers, and service providers will be “fully maintained and respected” in the acquired firm. 

Additionally, AGROFAUNA will maintain its identity and market positioning while expanding its product and service offering based on NUZOA’s portfolio.

The Spanish company says that it has acquired 17 firms in the past 5 years, of which 5 are in Portugal, to cover a chain of medicines, equipment, accessories, consumables, food, digital and diagnostic services. 

Market overview

The latest insights from the National Association of Pet Food Manufacturers (ANFAAC) indicate that there are 20 million pets in Spain, of which almost 7 million are dogs, while fish and cats each account for 5 million. 

The pet food market value in the country rose 5% between 2023 and 2024, surpassing €2 billion ($2.4B). Both snacks and wet food drove the surge, while dry food’s share declined, indicating a premiumization of the market. 

Volume also grew between the years, but at a slower pace of 2%, reaching 573,210 tons in 2024.

Although dog products accounted for 55% of revenue, the market value of cat products grew the most over the period, up 11.7%, while dog products were flat at 0.05%. 

ANFAAC also highlights the Spanish market’s relevance as a pet food exporter, with over 30% of the country’s market value sold abroad. 

Net exporter 

ANFAAC also underscores the importance of the Spanish market as a hub for pet food exports, with over 30% of the country’s market value sold abroad. 

A recent example is the natural pet food manufacturer Food for Joe, based in Barcelona. With a production capacity of 15,000 kilos per day, the company aims to boost its revenue by 40% this year, up from €8.7 million ($10.2M) in 2025, through higher turnover per point of sale in Spain and expanded partnerships with distributors and retailers in France and Italy. 

“Spain is currently the most mature market and the most open to the shift towards natural foods. France and Italy have high purchasing power, but consumers there may be more resistant to change at the moment, and therefore need more education,” the company tells GlobalPETS.