Paramount Retail Group (PRG) has today announced the acquisition of four major online retailers; Fetch, Medic Animal, Pet Supermarket and Pet Meds alongside two petfood brands; Bob & Lush and K9 Choice from Paws Group. With a combined turnover of over £50m in 2021 alone, the retailers and brands will join a strong stable of pet and lifestyle companies already owned by PRG.
With over 250,000 regular subscribers, Fetch, Medic Animal, Pet Supermarket and Pet Meds are already well-established online retailers with strong brand heritage and a loyal customer base. The deal will ensure that customers continue to receive their orders in a timely fashion with the benefit of the group’s unique distribution infrastructure and existing networks.
Ravi Sharma, Director at Paramount Retail Group, comments: “PRG are delighted to have completed the acquisition of these fantastic online retailers and brands from Paws Group. We believe to succeed in the current environment, expertise, scale, and strong partnerships are essential.”
“This is a very natural move for the company because of our existing resources and capabilities within the pet sector. The acquisitions will not only complement our portfolio of existing pet brands, but it will also allow us to scale and drive synergies for the group’s ambitious growth plans.”
The latest move positions PRG as a major player within the pet industry – a sector that is increasingly attractive because of its relatively recession-proof reputation, humanisation and premiumisation which drives pet product purchases.
PRG owns several core pet sector companies, creating a vertically integrated business model with significant synergies. The portfolio includes Pet Brands – an industry leader in the design and manufacture of accessories and treats for pets and wild birds and leading pet product wholesaler – Vital Pet Group.