Czech pet-food business Vafo Group has snapped up Austria-based peer PetCo for an undisclosed fee.
The move, which marks Vafo’s fourth since April 2023, sees Vafo acquire the pet-food business from German private-equity firm Comitis Capital.
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Vienna-based PetCo produces human-grade wet and dry food, supplements, and treats for dogs and cats under its four brands Dog’s Love, Cat’s Love, Wow and Pure Nature.
Comitis partnered with PetCo founders Stefan and Katharina Miklauz in 2021, marking the first investment of the fund.
Pavel Bouška, chairman of the board of Vafo, said: “When it comes to our strategy for growth in the DACH (Germany, Austria and Switzerland) region, the partnership with PetCo Group makes perfect sense.
“Together, we can leverage synergies to further strengthen our innovation capabilities, bring us even closer to our customers, and enrich our portfolio with strong brands.”
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By GlobalDataVafo said in a statement the deal brings together two businesses with a “combined annual turnover exceeding €600m ($665m)”.
PetCo will continue to operate independently in Vienna under the leadership of Stefan and Katharina Miklauz.
Stefan, who is also managing director of PetCo Group, said: “With Vafo Group, we’ve gained a strong strategic partner who shares our values. Not only will this partnership help us expand our presence in the DACH region, it will also allow us to establish new standards for the pet industry as a whole”.
In February, Vafo continued its acquisition spree by buying peer Dagsmark Petfood. Vafo said the acquisition of Dagsmark means it has become “the clear leader in the pet food market in the Nordic countries”.
Last July, Vafo acquired Pooch & Mutt, a UK-based pet-food brand focused on natural ingredients, in a “multi-million pound” investment.
Vafo was a long-time manufacturing partner of Pooch & Mutt and had bought a minority share in the business in 2020, upping that to 40% in 2022.
Three months earlier, the group bought a majority stake in Swedish pet food wholesaler Lupus Foder in a deal it said would strengthen its presence in Scandinavia.
