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New Deal


Announced

Completed

Independence Pet completed the acquisition of Pets Best Insurance Services from Synchrony for $750m.

Financials

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Transaction Value£594m
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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United States

Acquisition

Private

Completed

Friendly

Single Bidder

pet insurance

Life Insurance

Domestic

Majority

Synopsis

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Independence Pet, a multi-brand, multi-channel pet insurance provider, completed the acquisition of Pets Best Insurance Services, a pet insurance provider, from Synchrony, a consumer financial services company, for $750m. "Pet parents deserve access to the greatest range of pet insurance products, tailored to the personal needs of their pets. The unique combination of IPH's broad portfolio of brands with Synchrony's industry-leading digital capabilities will allow us to enhance our offerings for pet parents. We are thrilled to welcome the Pets Best team to the IPH family and look forward to working closely together to diversify its offering and accelerate the brand's growth," Dirk Beeckman, IPH Chairman.

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