Souter Investments has completed an investment in leading South East European pet supplies retailers through a set of transactions led by The Rohatyn Group (“TRG”).
The Rohatyn Group, an emerging markets asset management firm, recently announced the successful completion of its acquisitions of Pet Product SRL (“Pet Product” or “Animax”), one of the leading pet supplies companies in Romania, and MIMAJA d.o.o. (“MIMAJA” or “Mr. Pet”), one of the leading pet supplies companies in Slovenia. The acquisitions add to its expanding pet care platform, which includes Croatia-based Pet Centar, a leading pet supplies retailer across South East Europe, with a presence across Croatia, Serbia and Romania. The combined group is a regional market leader and platform for further growth and acquisitions.
Founded in 1998, Pet Product operates more than 80 small format stores and two large format stores in Romania, as well as an online store, all under the “Animax” brand name. It is also a leading distributor of pet products in Romania. MIMAJA, which was founded in 2004, operates a retail chain of 16 stores throughout Slovenia, as well as an online store, under the “Mr Pet” brand name.
The combined group is now a regional market leader in the pet supplies market, operating more than 115 multi-format locations, complemented by a competitive online and omnichannel offering and a distribution business.
TRG's Central and Eastern Europe Private Equity team, led by Colin Clark, Stepan Karpukhin and Harold Chatelus, said: “The pet care market in Central and Eastern Europe is at an exciting juncture, presenting an extraordinary growth opportunity bolstered by the strong humanization and premiumization trends supporting the industry. Our investment in the region’s best positioned pet supplies retail players enables us to positively transform the landscape. These are important investments for TRG, and we look forward to accelerating the companies’ growth in their respective markets and across the region.”
John Berthinussen, Investment Director at Souter Investments noted, “We are pleased to support TRG in their strategy to leverage changing consumption patterns around discretionary spending on pets. By accelerating store rollouts, continuing to develop the group’s online and omnichannel offering, and by taking the business model to new territories all in a modern, customer centric fashion, we believe that an already market leading business can go from strength to strength.”
The deal continues Souter Investments’ strategy of backing private equity sponsors by co-investing with them on a deal by deal basis, complementing its core activity of originating and leading private equity transactions directly.
In 2018 Souter has also announced investments in DMC Canotec, one of the UK’s biggest providers of managed print and document management services, alongside Lyceum Capital, and Broadway Partners, a leading provider of broadband services in rural areas.
During the year Souter Investments has completed sales of stakes in Finnish intercity bus operator OnniBus.com, leading Scottish independent searching firm First Scottish Group, cycling brand Endura held alongside Penta Capital, and Baywater Healthcare UK, the independent specialist provider of healthcare services to patients with long term conditions which was held in partnership with private equity house Duke Street.
About Souter Investments
Souter Investments is the family investment office of Sir Brian Souter, co-founder and Chairman of Stagecoach Group plc. It makes investments across a broad range of asset classes, with a primary focus on private equity and a portfolio of more than 30 direct private equity investments.
For more details please visit www.souterinvestments.com.
Founded in 2002, The Rohatyn Group is an asset management firm with expertise in emerging markets and real assets headquartered in New York, with offices around the globe including Boston, Singapore, Seoul, Rotorua, Mumbai, New Delhi, London, Buenos Aires, Montevideo, Lima and São Paulo.
For more information, please visit www.rohatyngroup.com
For Souter Investments press enquiries please contact Gordon Beattie at Beattie Communications on 0800 612 9890.