Vaaka Partners sells Musti ja Mirri to EQT Mid Market

The EQT Mid Market Fund has acquired Musti ja Mirri Group, the Nordic region´s largest pet specialty retail chain. Musti ja Mirri Group operates under the Musti ja Mirri brand in Finland and Grizzly Zoo in Sweden. The sellers in the transaction were funds managed by Vaaka Partners, the management team, and private individuals.

Since the acquisition by Vaaka Partners in 2010, Musti ja Mirri has grown very rapidly by significantly developing its operations and expanding into Sweden through the acquisition of Grizzly Zoo in 2012. Musti ja Mirri Group had revenues of €25 million when acquired in 2010 but achieved €81 million of pro forma revenues in the year to September 2014.

“The past four years have been a very rewarding period of development with Vaaka Partners. With the EQT Mid Market Fund as a new owner and partner, we will embark on the next growth and expansion phase to a true market leader throughout the Nordic region”, Mika Sutinen, CEO of Musti ja Mirri, said.

“We want to thank the professional management and colleagues at Musti ja Mirri. Their dedication towards improving the well-being of pets and continuous focus on moving the business forward has attracted a lot of new and loyal customers”, commented Panu Vuorela, Partner at Vaaka Partners.

“We are very proud of the growth and job creation we have achieved at Musti ja Mirri. As a consequence, it has been an extremely successful investment for us”, said Juha Peltola, Managing Partner at Vaaka Partners.

Rothschild, Hannes Snellman, Roland Berger Strategy Consultants and KPMG advised the shareholders of Musti ja Mirri Group on the sale. The transaction is subject to regulatory approvals from the competition authorities.

Further information:

Musti ja Mirri
Mika Sutinen, CEO +358 (0) 400 600 999

Vaaka Partners
Juha Peltola, Managing Partner +358 (0) 50 514 8401
Panu Vuorela, Partner +358 (0) 40 5100 952

Musti ja Mirri Group (MMG) is the leading pet specialty retailer in Nordic countries. MMG’s product assortment comprises a complete range of pet supplies and accessories related to the pets’ well-being as well as pet foods. The chain has 127 stores in Finland and Sweden. MMG generated turnover of EUR 81 million in the year to September 2014 with 500 employees. Further information can be found at www.mustijamirri.fi

EQT is the leading private equity group in Northern Europe, with portfolio companies in Northern and Eastern Europe, Asia and the US with total sales of more than EUR 25 billion and over 500,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership. More information can be found at www.eqt.se

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