Private equity firm wants to take over Zooplus

The online retailer for pet supplies will probably recommend that its shareholders accept the takeover offer from Hellman & Friedman. Zooplus should then soon disappear from the stock market.

The US investment firm Hellman & Friedman wants to take over the German online retailer Zooplus. This was announced by the listed expert for pet supplies. The company's shareholders are to receive 390 euros per share, which is significantly higher than the share price in recent months. Hellman & Friedman thus certifies that the online retailer is worth just under three billion euros.

Zooplus wants to recommend its shareholders to accept the offer. According to an adhoc, Hellman & Friedman has already secured 17 percent of Zooplus via agreements with management staff and long-term investors. If the takeover bid is successful, Zooplus is expected to be delisted.

"With Hellman & Friedman as a partner, we gain additional sector expertise, active support, financial leeway and a long-term view to better and more effectively leverage this market opportunity for us," Zooplus CEO Cornelius Patt said.

Zooplus has been around since 1999, and is the largest online platform for pet supplies in Europe in terms of revenue. In 2020, it had reached around 1.8 billion euros in sales. Both the new investor and CEO Patt expressed their conviction that the pet market in general and its online share in particular would grow strongly in the coming years.