A subsidiary of Musti Group buys a Norwegian company that offers veterinary services

Musti Group wholly-owned subsidiary Musti Norge AS has signed an agreement for a share subscription, which gives it a 40 percent ownership stake in the veterinary services provider Petrus Veterinærer AS:sta.

According to the agreement, Musti subscribed to new shares issued by Petrus, and Petrus’ key personnel are committed to continue developing the company with Musti’s support.

The release does not state the purchase price, but the company’s turnover last year was about NOK 13 million, or at the current exchange rate about EUR 1.11 million. Musti says in the press release that the company is profitable.

“I am excited to tell you about our new joint venture. This is a natural progression for Musti in Norway and a great value-added service for our customers and all pet parents in Norway. Petrus’ customer satisfaction is very high and we continue to grow our business on this basis. I am convinced that this partnership will be successful for all parties”, CEO of Musti Group David Rönnberg states in the announcement.