Musti ja Mirri to acquire the Swedish Grizzly Zoo
Musti ja Mirri, the Nordic region´s largest pet specialty retail chain, will expand its operations to Sweden through the acquisition of the Swedish pet specialty retailer Grizzly Zoo.
On 19 March 2012, Leash Holding Oy, the parent company of Musti ja Mirri Oy, and the Swedish Pet Pals Holding Sverige Ab operating under the Grizzly Zoo brand have signed an agreement under which Leash Holding Oy will acquire 100% of the company’s shares.
Grizzly Zoo operates nine stores in Sweden, most of them located in southern Sweden and in the Stockholm area, as well as an online shop. No changes to the Grizzly Zoo concept or brand are foreseen following the acquisition.
“Grizzly Zoo has a strong concept that is well in line with the present concept of Musti ja Mirri. We plan to significantly strengthen the company’s local organisation and resources. Our goal is to expand Grizzly Zoo by establishing new stores, and the projected net sales total more than EUR 30 million for 2016,” says Mika Sutinen, Managing Director of Musti and Mirri.
“This acquisition allows Musti ja Mirri to expand its strategic position from Finland to being the leading pet retail chain in the Nordic countries. Vaaka Partners is happy that we have been able to support the company in taking this important step, and we believe the new group will continue the successful growth in Sweden.”, says Panu Vuorela, partner at Vaaka Partners. Funds managed by Vaaka Partners are the majority owner of Leash Holding Oy.
Mika Sutinen will continue as the Managing Director for the Group. Following the acquisition, Juhana Lamberg, who has previously held executive positions at Gigantti Finland, was appointed Country Manager of Finland. The current main owners of the Grizzly Zoo chain, Eskil Sylwan and Björn Zethraeus, become shareholders in Leash Holding Oy and continue to run the Swedish operations. Sylwan will serve as the Country Manager for Sweden, while Zethraeus will take charge of Grizzly Zoo’s marketing, location portfolio management and the opening of new stores in Sweden.
“Our customers and Finnish stores will benefit from the acquisition. In particular, the volume growth in group level purchasing will further enhance our competitive edge. We aim at being Finland’s – and now also Sweden’s – pet supplies chain of choice concerning pricing, product range and excellent customer service,” says Mika Sutinen.
“We are extremely excited about this opportunity to realise our vision of making Grizzly Zoo the leading chain in Sweden. Supported by Musti ja Mirri’s sourcing channel and extensive resources, we believe that this is a very realistic goal,” says Eskil Sylwan of Grizzly Zoo.
Combined, Musti ja Mirri and Grizzly Zoo have a total of 112 stores, annual sales of around EUR 70 million, and around 400 employees.
Musti ja Mirri Oy, Mika Sutinen, Managing Director, tel. +358 (0)400 600 999
Vaaka Partners Oy, Panu Vuorela, Partner, tel. +358 (0)40 5100952
Musti ja Mirri
Musti ja Mirri is a pet products specialty retail chain established in 1988. Musti ja Mirri’s product assortment comprises
a complete range of supplies and accessories related to the pets’ well-being as well as pet foods. The chain has 103 stores all around Finland. The chain’s annual sales total EUR 55 million and the number of personnel around 300
employees. Musti ja Mirri is the largest pet supplies chain in Finland and in
the Nordic countries.
Further information: www.mustijamirri.fi
Grizzly Zoo is a pet products specialty retail chain established in 2006. The chain’s concept is to be a one-stop superstore
of quality products for pet owners. The chain operates nine stores in Sweden as well as an online shop launched in 2011. The chain’s net sales total around EUR 10 million. In the financial period ending in 2011, the chain increased its sales in Sweden by 22%.
Further information: www.grizzlyzoo.se