Zooplus, one of Europe's biggest online pet stores, has accepted an acquisition bid of American investor Hellman & Friedman, worth three billion euros.
40 % bonus
The offer comes down to 390 euros per share, 40 % more than the e-tailer's closing rate yesterday. The company said both its board of directors and its supervisory board welcome the acquisition bid and will recommend it to its shareholders. If successful, the company will be delisted from the stock exchange.
"The fast-evolving European pet market will provide significant opportunities for players, wo master the continued shift towards online", CEO Cornelius Patt told Reuters. Indeed, his company has been able to profit hugely from the rise in online demand for pet food and supplies during the Covid lockdowns.
Zooplus is not Hellman & Friedman's first foray into Germany: it has already acquired companies such as Axel Springer and AutoScout24.