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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