EQT and Hellman & Friedman completed the acquisition of zooplus for $3.94bn.

EQT and Hellman & Friedman completed the acquisition of zooplus, a European online pet platform, for $3.94bn. “EQT has monitored zooplus’ development for a long time, and we are impressed by its stellar customer base and the market leading positions in many markets, complemented by a strong offering. We have a long history in the pet care sector and can also offer zooplus unique experience and know-how of technology and platform development, both from within the EQT platform – which includes our inhouse digitalization and sustainability specialist teams – and via EQT’s global network of industry experts," Johannes Reichel, EQT Partner and Head of Private Equity’s Advisory Team in Germany. On September 12, 2021, Hellman & Friedman increased its offer from $3.5bn to $3.9bn. On September 27, 2021, EQT offered to acquire zooplus for $3.94bn. On October 7, 2021, Hellman & Friedman matched the offer for Zooplus made by EQT. On October 25, 2021, Hellman & Friedman and EQT decided to buy zooplus in a joint offer. On November 4, 2021, Zooplus cuts its 2021 profit target by half, blaming takeover transaction costs.