Pet Service Holding posts 7.7% growth after Petlux acquisition

Dutch pet care firm Pet Service Holding (PSH) reported €13.6 million ($16M) in revenue in fiscal year (FY) 2025, ending 31 December, representing a 7.7% increase from 2024.

More than half (51.5%) of the revenue was achieved in the first half (H1) of the year – €7 million ($8.2M) – which marked a 14% increase compared to the same period in 2024.

Results were driven by both online consumer platforms and sales activities to professionals, the company says.

However, the second half (H2) of 2025 recorded €6.5 million ($7.6M) in turnover, representing a more moderate increase compared to 2024 (3%).

Product discontinuation

Last year, the company received a notification from the Netherlands Food and Consumer Product Safety Authority (NVWA) stating that certain classified veterinary medicinal products – those requiring a medical prescription – cannot be sold online in EU Member States outside the Netherlands, in line with EU regulations.

To comply, PSH discontinued sales of prescription veterinary medicines outside the Netherlands in the fourth quarter of 2025, resulting in an estimated €1 million ($1.2 million) revenue loss during the period.

To offset losses, the company plans to increase its product mix of over-the-counter (OTC) veterinary medicines, pet accessories and supplies, and invest in its online platforms.

Acquisition of Petlux

In August 2025, the company acquired Petlux, a pet product manufacturer and distributor based in Woerden (42 km south of Amsterdam).

PSH’s CEO, Ron van Veldhoven, tells GlobalPETS that Petlux has been performing ‘in line’ with their expectations, as the focus since the acquisition has been on integrating operations and preparing for growth.

“While the contribution to revenues in 2025 was still limited due to timing, we expect Petlux to become an increasingly meaningful contributor from 2026 onwards, supported by its strong product portfolio and existing European distribution footprint,” he says.

Since the company operates primarily in product categories not subject to prescription-based veterinary regulation, Pet Service Holding also relies on the newly acquired manufacturer to mitigate the impact.

The company notes that it “fits well” within its broader strategy to diversify revenues and reduce exposure to regulatory-sensitive activities.

“While it is not positioned as a direct replacement for any discontinued activities, Petlux is an important component of our wider mix-shift towards scalable, less regulation-dependent product categories,” the CEO explains.

‘Upgraded’ stock listing

On 28 July 2025, PSH shares were moved from the Euronext Access+ index to the Euronext Growth Paris index on the Paris Stock Exchange.

While Euronext Access+ caters to startups and small- to medium-sized enterprises (SMEs) with limited share capital, Euronext Growth Paris is suited to larger SMEs with higher total share capital.

At the time of the transfer, Euronext noted that “with a strong, integrated model – including veterinary pharmacies, wholesalers, online shops, and digital platforms – PSH is well positioned to serve the rapidly growing European pet market.”

Ron van Veldhoven tells GlobalPETS that, to complete the transition, the company had to meet listing requirements, including audited financial reporting, which incurred additional costs. However, the gain in exposure compensates for it.

“The move represents a strategic step to increase PSH’s visibility and access to a broader, international investor base,” he concludes.