Consortium led by Sonae concludes “successful” takeover bid for Musti for 700 ME

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The consortium led by Sonae has “successfully” concluded the takeover bid for Nordic pet products retailer Musti, having secured 80.65% of the company, in an investment of 700 million euros, it announced.

“The consortium led by Sonae successfully concluded the takeover bid for Musti Group, having secured the acquisition of 80.65% of the share capital of the market leader in the retail of pet products in the Nordic countries,” the company said in a statement, noting that “the acquisition involves an investment of around 700 million euros and allows Sonae to strengthen the internationalization and diversification of its portfolio, both geographically and in terms of business areas.”

Sonae leads this consortium with a 98% stake, “the remaining capital being shared between Jeffrey David, chairman of Musti’s board of directors, Johan Dettel, a member of Musti’s board of directors, and David Rönnberg, Musti’s CEO [executive chairman], all of whom have long experience and a proven track record of success in the sector.”

The Maia group believes that Musti “is in a privileged position to take advantage of the market’s growth trends, presenting a solid omnichannel value proposition that includes a network of more than 340 stores in Finland, Sweden and Norway and e-commerce operations specializing in pet care and food products.”

“Pet products retail is a fast-growing segment, benefiting from the increasing trends of pets in households, premium pet care, increased spending per animal and the resilience inherent in the non-discretionary consumption pattern of their food,” Sonae pointed out.

In addition, according to the group, “the Nordic markets present a solid macroeconomic context, characterized by high household disposable income compared to the European average” and taking into account “a positive growth outlook in the pet products retail segment, with consumers showing an increasing preference for specialized and online retail channels”.

In its last fiscal year, Musti’s turnover was 426 million euros, and EBITDA (earnings before taxes, interest, depreciation and amortization) reached 74 million euros.

After completing all the acquisition procedures, which will take place before the end of March, the consortium led by Sonae says it intends to start the next phase of Musti’s development, “contributing to strengthening its value proposition and responding to the needs of a growing number of pet owners,” it said.

The group believes that Musti will benefit from the combination of “Sonae’s experience in omni-channel retail, as well as its resources and geographical reach, which have enabled the successful development of leading retail banners in different markets”, as well as “the experience and knowledge of the consortium partners in the pet products retail business, together with Musti’s strong management team, ensuring the continuity of its values and culture”.

Finally, said Sonae, the Nordic company will be able to leverage its unique value proposition, “supported by its own exclusive brands and complementary services, combined with extensive consumer knowledge leveraged by its exclusive loyalty program with more than 1.5 million active and recurring customers”.

Hervé Hubert
Hervé Hubert
Hervé Hubert is a 55-year-old writer and journalist based in Porto, Portugal. Born in France, he brings a unique blend of French and Portuguese perspectives to his work. Education Hervé studied Journalism and Literature at the University of Lyon in France. After completing his studies, he gained valuable experience working with various French media outlets (Portugal France also). Career He worked for several years as a journalist in France before making the move to Portugal. In Porto, he joined the Portugal Pulse team as a staff writer. Skills Hervé specializes in storytelling, investigative journalism, and cultural commentary. He has a flair for capturing complex issues in a relatable way. Personal Life He currently resides in Porto and enjoys the city's rich culture, from Fado music to Francesinha cuisine. Hervé continues to maintain strong ties to his French heritage, often traveling back to France for family visits and cultural exploration. With his unique background and diverse skill set, Hervé Hubert adds a layered, multicultural lens to every story he covers.

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