Cinven successfully realises its investment in Arcaplanet, a leading Italian pet care retailer, to its strategic partner, Fressnapf Group; and concurrently makes a new strategic investment in Fressnapf Group, a leading European pet supplies business led by founder and majority shareholder Torsten Toeller
International private equity firm, Cinven, today announces that it has reached an agreement for Fressnapf Group (‘Fressnapf’) to acquire full control of the Arcaplanet Group (‘Arcaplanet’), from Cinven funds. In a new and separate transaction, Cinven funds will make a strategic investment in Fressnapf, a business founded and majority owned by Torsten Toeller, headquartered in Germany.
Background to Cinven’s successful investment in Arcaplanet and relationship with Fressnapf
Cinven acquired a majority stake in Arcaplanet in 2022 and subsequently combined the business with MaxiZoo Italia (Fressnapf’s former Italian subsidiary), with Fressnapf holding a minority stake in the combined business. The combination created the Arcaplanet Group, one of the largest omnichannel pet care retailers in Italy and across Southern Europe.
Under the leadership of CEO, Nicolò Galante, and Chairman, Peter Pritchard, Arcaplanet Group has seen a material acceleration of performance over the last two years under the ownership of the Cinven funds, growing its physical store network to more than 560 locations in Italy today, and improving its digital presence and suite of services dedicated to pets, with a strategy focused on creating a seamless omnichannel customer experience. The Arcaplanet Group is expected to generate more than €700 million of revenues in 2024 and has grown its number of employees from c. 2,000 to c. 3,000 since March 2022. It will continue to operate under the current structure and the Arcaplanet brand in Italy.
Cinven’s investment in Fressnapf marks a continuation of the successful partnership with Torsten Toeller and Fressnapf
Having worked in close collaboration with Fressnapf and its founder, Torsten Toeller, to grow and build value in Arcaplanet, Cinven is pleased to announce the commencement of a new chapter in their successful partnership through a new strategic investment by Cinven funds into Fressnapf.
Over the past 34 years, and under Torsten’s vision and leadership, Fressnapf has created a highly successful, much loved and recognised pet care brand with more than 2,600 speciality stores across 14 countries. The combined group is expected to generate total gross revenues of c. €5 billion in 2024.
Cinven and Fressnapf share the common goal of creating the best and fastest growing omnichannel pet care platform globally, and a key player in the European pet care landscape. Fressnapf will remain dedicated to its mission: resolute focus on its customers and their omnichannel experience, delivered through operational excellence, all of which have been at the core of Fressnapf’s success over more than three decades.
Torsten Toeller will maintain majority ownership and his role as Chairman of the Fressnapf Group, while Cinven extends its track record as a leading investor in the broader European Consumer and pet care markets.
Maxim Crewe, Partner and Head of Cinven’s Consumer and Financial Services sector teams stated:
“Arcaplanet has been a fantastic Consumer investment for the Cinven funds: identified through our focus on the consumer mega-trend of Pet Humanisation, built on our long-standing relationship with Torsten and Fressnapf and delivered through supporting Nicolò and the Arcaplanet team as they executed on our value creation plan. Our experience in the sector, built through Cinven funds’ investments such as PPF and Arcaplanet, allows us to be a value-added partner to one of Germany’s most successful retail entrepreneurs, and to help him achieve his vision and ambitions for Fressnapf. I’m thrilled to have the opportunity to continue our journey with Fressnapf and deepen our partnership and friendship with Torsten and his team.”
Bruno Schick, Co-Managing Partner and Head of the DACH team at Cinven, said:
“We are very proud of the success that we have achieved with the Cinven funds’ investment in Arcaplanet, another great example of Cinven’s country-sector matrix working at its best. Our relationship with Torsten dates back many years and we are delighted to expand and continue this strong partnership through the Cinven funds’ investment in Fressnapf. Alongside investments such as think-cell, this transaction further cements Cinven as the partner of choice for founders and entrepreneurs in the DACH region and across Europe.”
Matteo Corà, Partner, Head of the Italian team and member of the Consumer team at Cinven, added:
“Cinven’s combination of Arcaplanet and MaxiZoo Italia has created a great Italian success story, and we are immensely proud of what Arcaplanet has achieved in such a short period under Nicolò and his team. Their relentless focus on superior and passionate customer experience, combined with investment in the acceleration of digital capabilities, has created significant growth and value – all while providing support to the local communities where the company operates. We are delighted to renew our partnership with the teams at Arcaplanet and Fressnapf, and to support them on the next phase of this journey.”
Torsten Toeller, Chairman and Founder of Fressnapf, commented:
“The acquisition of Arcaplanet is an important step for us in a strategic journey. Arcaplanet and its team will be joining one of the most successful and fastest growing pet businesses in Europe, with a resolute focus on making the life of pet lovers and their pets easier, better and happier – following our vision of ‘Happier Pets. Happier People’.”
“At the heart of this transaction lies our strategic vision of continuing to build one of the best, sustainable pet care businesses globally, that meets the needs of our customers and their pets across both physical and digital channels.”
“In Cinven, we have our partner of choice. A proven partner and a leading investor in high-quality businesses, with unique expertise in the pet care sector. I am delighted to welcome them as my first ever outside shareholder in the Fressnapf Group. My team and I look forward to partnering with them as the Group continues its successful journey.”
Nicolò Galante, CEO of Arcaplanet Group, added:
“I am very proud of what we achieved at Arcaplanet, which is considered today one of the best performing and most innovative pet retailers. I am very excited because, on the one hand being part of the Fressnapf Group will accelerate the growth opportunities we have ahead of us, and on the other, it means that the talents and capabilities of Arcaplanet can contribute a lot to the success of the whole Fressnapf Group. My team and I look forward to continuing our partnership with Torsten, Peter, and the Cinven and Fressnapf teams.”
The terms of the acquisition have not been disclosed and the transaction will be subject to customary regulatory and antitrust approvals.
