Zooplus Gets Increased Takeover Offer From Hellman & Friedman
08 Oktober 2021 - 9:29AM
Dow Jones News
By Cristina Roca
Zooplus AG said Friday that Hellman & Friedman LLC has
increased its offer price to match a rival bid for the online
pet-supply retailer.
Hellman & Friedman has increased its cash consideration for
its voluntary public takeover offer to 470 euros ($542.97) for each
Zooplus share, from EUR460 previously.
The new offer values the company at roughly EUR3.36 billion.
The private-equity firm, which would take over Zooplus through
Luxembourg-based holding company Zorro Bidco Sarl, increased its
offer to match an offer made by rival investment firm EQT AB's Pet
Bidco GmbH holding company.
Zooplus said it will publish a statement on the modified offer
in due course.
The German company has attracted interest from several
investors, including U.S.-based KKR & Co., as they look to
capitalize on a rise in pet ownership and an accelerated shift to
online shopping during the coronavirus pandemic.
Zooplus posted sales of EUR1.8 billion in 2020, which it said
captured about 7% of the European pet-supplies market, both online
and offline.
Write to Cristina Roca at cristina.roca@wsj.com
(END) Dow Jones Newswires
October 08, 2021 03:14 ET (07:14 GMT)
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