JAB-backed Independence Pet Holdings completed the acquisition of Independence American Insurance Company and an 85% stake in PetPartners from Independence Holding Company for $265m.

JAB-backed Independence Pet Holdings, an investment company specifically formed to facilitate this transaction, completed the acquisition of Independence American Insurance Company, a specialty health and pet insurance firm, and an 85% stake in PetPartners, a pet insurance firm, from Independence Holding Company, a life insurance company, for $265m.