Swedish equestrian marketplace Hästnet Sverige AB acquires UK pet classified platform Pet Media Limited and welcomes new strategic investors.
Pet Media Limited has been acquired by Hästnet Sverige AB as part of its strategy to become the undisputed leader in Europe with regards to operating equestrian and pet marketplaces whilst promoting transparency, trust and safety between its users. BCMS advised on the sale.
Established in 2008, Pet Media owns and operates the websites pets4homes.co.uk and petforums.co.uk.
Pets4Homes is the UK's leading dedicated pet classified website for all pet types including dogs, cats, rabbits, poultry, fish, birds, reptiles, horses and other small animals. By focusing on the sellers meeting strict animal welfare requirements, Pets4Homes has created a safe and secure marketplace that receives over 4 million unique visitors per month. According to the Great British Puppy Survey, every third person in the UK has found their puppy at Pets4Homes, representing a significantly larger share than any other channel in the country.
Established in 2001, Hästnet is the Nordic region's largest marketplace for horses and equestrian related equipment and services. Leading an acquisition of Hästnet in 2018, CEO Axel Lagercrantz saw potential for Hästnet to grow both internationally and into new pets' categories.
Axel said: "Finding a new best friend is one of the most important decisions a person will make in life. Our firm belief is that a marketplace that offers a best-in-class user experience on all platforms coupled with tools that promote transparency and trust between buyers and sellers will continue to be the go-to-place for animal lovers for decades to come."
Pet Media Director, Stacey Blackledge commented: "From the first meeting we felt there was a perfect fit of ethics and responsible trading between the two companies. Knowing that Hästnet are driven to grow and enhance the websites further was key for us choosing to work with them."
In conjunction with this acquisition, Hästnet welcomes additional strategic investors who support the long term growth ambitions of the business. These seasoned marketplace investors include, among others, Verdane (a leading Nordic investment firm), Jonas Nordlander and Filip Engelbert (founders of the world's 3rd largest classifieds site, Avito) and Back in Black (prominent Swedish tech investor).
BCMS advised Pet Media with legal advice from Continuum Corporate Lawyers. The price and terms of the deal are undisclosed.
BCMS Lead Advisor Chris Harrison said: "There is a natural fit between the companies which made this a very exciting deal to advise. Hästnet's strategy for the business fits perfectly with the aspirations of the Pet Media shareholders, making them the ideal acquirer. We wish them all the best for the future."