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Musti Group

Sales: EUR 179 million in 2017
EBITDA: EUR 13 million in 2016/2017

Musti Group is the leading Nordic pet care specialist, offering a wide range of pet supplies, accessories, foods and services. The company has a focused omnichannel operating model with a network of more than 270 physical stores across Finland, Sweden and Norway and some 25% of all sales derive from its digital channels.

Musti Group was founded in 1988 in Finland and entered the Swedish market in 2012. Musti has established a strong platform from which it has driven market expansion on a mission to become the leading pan-Nordic group. In early 2015, the company expanded its presence in Sweden after acquiring the franchiser of pet specialty chains “Arken Zoo” and “Djurmagazinet”. The add-on also included “Trimmis” grooming salons and the veterinary chain “Vettris”. In late 2016, Musti Group opened its first stores in Norway. In 2017, Musti acquired digital competences through the acquisitions of VetZoo and Animail strengthening in-house developer team.

The successful and well-developed concept is based on a wide assortment of pet food, accessories and services in combination with a strong culture of dedicated, knowledgeable and service minded employees. Today, Musti serves over one million customers.

To Musti Group

Market trends and drivers

The ongoing pet humanization trend is driving an increasing demand for high quality food and premium brands as well as a higher spend on accessories. Pet owners are increasingly treating pets as family members and are becoming more focused on the pet’s wellbeing and comfort, which increases the awareness of high quality food ingredients resulting in pet owners purchasing healthier, high protein foods from premium brands and manufacturers. These trends are also supporting the positive development of the pet specialty retail channel taking market share from other sales channels such as grocery stores and independent retailers.

Investment potential

EQT Mid Market’s strategy is to accelerate the growth of Musti Group through continued expansion of the store network across the Nordics, further development of the online and omni-channel platform and further development of adjacent pet related services.