Zooplus accepts €3 billion takeover offer
Private equity firm Hellman & Friedman make a bet on the pet industry with this takeover.
The US private equity firm offers €390 per share in cash to take the online retail company private, a 40% premium to its share price before the announcement.
After its announcement, the stock shot through the roof with an increase of more than 40%, hitting more than €394 per share.
“The fast-evolving European pet market will provide significant opportunities for players, who master the continued shift towards online, match and exceed evolving customer expectations and increase the product and service choice relevant to pet lovers. With Hellman & Friedman, we gain additional sector expertise, hands-on support, financial flexibility and long-term focus needed to seize this unique market opportunity better and more effectively. We are convinced that the current market environment requires a clear focus on winning the category in the long run by prioritizing sustainable growth and value creating investments ahead of short- and midterm earnings, a strategy fully backed by Hellman & Friedman”, said Dr. Cornelius Patt, CEO of zooplus.