The multinational group Musti has reached an agreement with MC Sonae to buy ZU, the Portuguese retail brand of pet products and care, Sonae announced today in a statement.
With the acquisition of the Portuguese brand, the multinational intends to expand its presence in Portugal, reaching aggregate sales of around 470 million euros, “the beginning of a new cycle, which follows a successful chapter of development and consolidation powered by MC”, says the information released.
“The concentration of our retail and pet care activities at Musti reinforces the Group’s position in this market, providing clear synergies and benefits of scale”, said Sonae’s financial administrator (CFO), João Dolores, in a statement.
In this way, Sonae has its activity in the “pet care” sector concentrated in one business unit.
The value of the deal was not disclosed.
ZU has 65 stores in Portugal, 24 of which have veterinary clinics, and will continue to operate under the ZU banner, maintaining the current benefits for customers, including those of the Continente Card.
Thus, the Musti group now has a network of more than 480 retail stores and veterinary clinics and a team of more than 2,300 professionals, serving more than two million customers in seven countries.
In the Nordic countries, the group operates under the brands “Musti ja Mirri” in Finland, “Arken Zoo” in Sweden and “Musti” in Norway, as well as in the Baltic countries, where it operates under the brand “Pet City” in Estonia, Latvia and Lithuania.