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New Deal


Announced

JAB-backed Pinnacle Pet to acquire Animal Friends from Correlation One.

Financials

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Transaction Value-
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Private

pet insurance

Pending

Property and Casualty Insurance

Domestic

Majority

Acquisition

Single Bidder

Friendly

United Kingdom

Private Equity

Synopsis

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JAB-backed Pinnacle Pet, a pan-European pet insurance provider, agreed to acquire Animal Friends, a pet insurance provider, from Correlation One, a talent solutions technology company. Financial terms were not disclosed. “This is an exciting new home for Animal Friends with the Pinnacle Pet Group. Our business has grown over the past five years and this acquisition is a natural next step, further solidifying our position as a leading pet insurance provider in the UK market. We’re really looking forward to working with JAB and PPG, driving change in the sector together and finding new ways to enhance the lives of pets and pet parents,” Westley Pearson, Animal Friends CEO.

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