Zooplus, one of Europe’s largest online pet supplies’ retailers, received and accepted a $3.5 billion takeover offer from U.S. private equity firm Hellman & Friedman. The offer represented a premium of 40% to the German company’s closing price and was for a cash consideration of 390 euros per Zooplus share.
After the news, Zooplus shares surged 40%. The company said in a statement that both its management and supervisory boards welcomed the takeover offer. Hence it would recommend the offer to shareholders.
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Zooplus said its aim is to benefit from a market driven by increasing pet ownership, more demand for premium pet supplies, and a continued shift to online retail. Not to mention, they expect pet e-commerce t...
