Pet store chain Fressnapf has completed the acquisition of Italian Arcaplanet. The latter’s majority shareholder, private equity firm Cinven, enters the German group as a minority shareholder.
Adding 560 stores
The Arcaplanet acquisition was already agreed last summer, but it took until now for the European Commission to officially approve the transaction that adds more than 560 Italian stores and 700 million euros in sales to Fressnapf’s existing number of around 2,000 stores and more than four billion euros in sales.
Fressnapf founder Torsten Toeller stressed the importance of the developments: “With the acquisition of Arcaplanet, we strengthen our position as a pan-European market leader. Our previous cooperation with Cinven was successful, and we look forward to further intensifying it to realise our vision of becoming the best and fastest-growing pet supplies retailer in Europe.”
