Financial investor Cinven acquires stake in pet food retailer Fressnapf
Financial investor Cinven sells Italian pet supplies retailer Arcaplanet to Fressnapf and becomes a minority shareholder in the Krefeld company. Firm founder Torsten Toeller remains majority owner of Fressnapf, as Cinven announced.
Cinven took over Arcaplanet, a Fressnapf daughter company in Italy, shortly after its acquisition in 2022. As a result, Fressnapf received a minority stake in Arcaplanet. Now Cinven is selling the enlarged company with 560 stores and 700 million Euro revenue to business partner after two years.
The percentage of Fressnapf that Cinven will receive in return remains undisclosed. According to a "Handelsblatt" report, it is below 20%.
The Fressnapf group, founded in 1990, generates around five billion Euro revenue with over 2600 stores in 14 countries. With Cinven's entry, Toeller is giving away shares in his company for the first time: "I am very pleased to welcome Cinven as my first external shareholder in the Fressnapf group", he said.
Cinven's participation in Fressnapf increases with their acquisition of a minority share in the company after selling Arcaplanet, a pet supplies retailer they previously owned. As a financial investor, Cinven has shown interest in the pet food retail sector, and Arcaplanet's contribution to Fressnapf's revenue of 700 million Euros from its 560 stores is noteworthy. Despite the undisclosed percentage of Fressnapf shares Cinven will receive, the news marks their first involvement as an external shareholder in the pet food retail giant, Fressnapf.
