Musti Group buys Estonian Pet City – debt-free purchase price 18 million euros

Running pet stores Musti Group informs that an Estonian has signed the contract Pet City and Pet City Clinic of procurement Magnum Groupilta.

The debt-free purchase price is 18 million euros and the sale is expected to be completed by the end of this year.

Pet City has 46 stores and 16 veterinary clinics in the Baltic countries, as well as a comprehensive Baltic online store. The store network includes 25 stores in Estonia, 13 in Latvia and eight in Lithuania. There are eight veterinary clinics in Estonia, four in Latvia and four in Lithuania.

The turnover of the acquired entity was 31.5 million euros last year and the EBITDA was 1.1 million euros negative. Pet City’s team includes 472 employees, including part-time employees.

Musti Group’s net sales in the fiscal year ending on September 30, 2023 was EUR 425.7 million and EBITDA was EUR 74.6 million. The number of personnel was 1,646.