Mars is acquiring another pet care business

Mars, the pet-food-to-chocolate conglomerate, is acquiring AniCura, a pet care business, from Nordic Capital, in what marks the company’s second acquisition in Europe in just days. The deal values the European pet care business at close to €2 billion… This is one of the sector’s largest transactions and comes just days after Mars’ petcare division bought UK veterinary group Linnaeus from Sovereign Capital Partners, another private equity firm. It also follows the acquisition of Partner in Pet Food, a maker of pet food in Europe, by Cinven, a London-based buyout fund, from Pamplona Capital Management for an undisclosed amount. Firms are buying pet businesses against a backdrop of growing demand for premium pet products as owners want to keep their animals healthier, according to industry observers… The deal marks one of the largest transactions in the sector, with AniCura growing fourfold during Nordic Capital’s four-year ownership,,, It also represents one of the largest sales for Nordic Capital as the buyout fund delivered seven times return on investment… The internal rate of return, a closely watched figure that measures performance, was not disclosed. AniCura provides medical services for pets in 200 clinics and employs 4,000 people across Europe. The company cares for 2 million pets a year.
Javier Espinoza