ZAGREB (Croatia), June 24 (SeeNews) - German franchise for pet food Fressnapf Group has closed the acquisition of Croatian pet shop chain Unconditional, the legal advisor to the seller, DTB, said.
"As one of the leading regional pet supply companies, Unconditional has effectively partnered and cooperated with the Fressnapf Group that is now its strong shareholder investing in the company’s further expansion in Croatia, Slovenia, Serbia, and Bulgaria,” Croatian law company Divjak, Topic, Bahtijarevic & Krka (DTB) said in a statement earlier this month.
You can subscribe to our M&A newsletter here
Financial details of the transaction were not disclosed.
Since its launch in 1974 with one pet store in Split, Unconditional has grown its business to 30 pet stores in the country and supplying over 1,000 pet stores and veterinarians in Slovenia, Croatia and Serbia. It has almost 300 employees.
The Fressnapf Group is currently active in 11 countries with more than 1,800 physical and online stores and approximately 16,000 employees. It is Europe's largest pet food and supplies retailer with some 3 billion euro ($3.2 billion) in sales revenue sale year.
According to the Croatian court register, Fressnapf was added as co-owner of Unconditional, along with its founder Edvard Varda, at the end of May.
Fressnapf Group did not respond to an email from SeeNews seeking further information about the deal by the time this article was published.