Veterinary distributor acquires majority stake in Romanian online retailer PetMart
ALTIUS wants to expand as a critical player in the animal health and care industry in Eastern Europe.
The Bucharest-based veterinary company believes the takeover of the e-commerce platform represents a milestone that will help develop “new synergies for a project that will bring important benefits for the veterinary actors and animal owners alike.”
PetMart agreed to sell a majority package of 60% of total shares but will continue to manage the day-to-day of the platform. According to company sources, the capital infusion will broaden the client base and develop new products and services.
Present in the Romanian market since 2008, the online platform sold in 2021 for RON20 million (€4M). This is a 15% increase compared to 2020.
ALTIUS offers for 23 years premium veterinary solutions in the zootechnic and pet segments, from clinics to pharmacies.