Musti Group’s new management started acquisitions: bought dozens of stores and veterinary clinics for 18 million euros

Pet supply chain Musti Group buys Pet City, a pet supply chain operating in Estonia, Latvia and Lithuania, in a cash transaction of approximately EUR 18 million. The deal is scheduled to be completed this year.

Pet City has a total of 46 stores and 16 veterinary clinics. 25 of the stores are located in Estonia, 13 in Latvia and 8 in Lithuania. 8 of the veterinary clinics are located in Estonia, 4 in Latvia and 4 in Lithuania. In addition, the chain has a Baltic comprehensive online store.

Last year, Pet City had a turnover of around 31.5 million euros. The EBITDA, which describes its profitability, was 1.1 million euros at zero.

Last year, Pet City had 8.7 million euros in assets and 23.7 million euros in debt. The company employed 472 employees, including part-timers.

“Baltia is a natural direction for international expansion and Musti’s first acquisition as part of the Sonae Group,” says Musti Group CEO David Rönnberg in the company’s announcement.

Portuguese At the end of last November, a group of investors formed by the conglomerate Sonae and the top management of Musti Group made a cash purchase offer of nearly 870 million euros for Musti Group. Rönnberg was part of the investor group together with the company’s board members by Jeffrey David and By Johan Dettel with.

Sonae’s share of the offer is 98 percent, Musti Group’s two.

Musti Group has an annual turnover of just under 430 million euros. It has several store chains, the most famous of which in Finland is Musti ja Mirri.

Sonae Group’s turnover in 2022 was approximately EUR 7.7 billion and the combined EBITDA exceeded EUR 900 million.

The company is the largest private employer in Portugal, and is a market leader in several different industries.

In addition to the pet supplies business, Sonae is, among other things, the largest food retailer in Portugal. In addition, it has business in the fields of health and well-being, real estate, telecommunications and financial services.