Pet Pawr Group (PPG) merge with PetXL Group (PetXL) in a strategic move to strengthen the Nordic Market Position

Pet Pawr Group (PPG) merge with PetXL Group (PetXL) in a strategic move to strengthen the Nordic Market Position

Pet Pawr Group (PPG), a leading retailer in the Nordic pet care market, is pleased to announce the merger with PetXL, a trusted retail brand in the Norwegian pet industry. This merger positions PPG as a clear number two in the Nordics within the petcare industry with an annual turnover of 1.1 billion SEK.

This merger also marks a strong strategic partnership with significant synergies. The current majority shareholder of PetXL, Karbon Invest, will become one of the largest shareholders of Pet Pawr Group.

PetXL will now operate as a 100% owned subsidiary of PPG, bringing together complementary strengths of both companies to create a more competitive and scalable entity with strong financials.

Key Developments of the Transaction:

• Improved Financial Stability: The merge between PPG and PetXL enables critical structural changes, leveraging PPG’s scale to bring PetXL to profitability at a quicker pace. Current owners of PetXL have committed to strengthening PetXL´s financial position prior to the transaction being completed.
• Leadership Transition: Peter Tichelaar will assume the role of Managing Director of PetXL as of December 2nd, bringing extensive expertise to lead the company through this new phase.
• Ownership Changes: As part of the merger, Karbon Invest and Fellesköpet (Nw: Felleskjøpet) will jointly take over VetXL. The newly formed company will manage this part of the business independently while maintaining close collaboration with PPG, including renting 10 locations from PPG and opening six new locations.

“This merger is a pivotal step forward on PPG’s exciting journey,” said Christer Åberg”, CEO of Pet Pawr Group. - “By integrating PetXL into PPG, we not only strengthen our position in the Nordic pet care market, but also create the scale necessary for sustainable growth. We’re committed to make PetXL profitable and a key contributor to our shared Nordic Omni-vision.”

Christian Breddam, Chairman of PetXL and CEO of Karbon Invest - “This transaction represents a unique opportunity to leverage PetXL’s existing strengths, but also give the company the scale it needs for the future. We are also excited to take on and develop VetXL, and we intend to cooperate closely with PPG in the future”.

Pet Pawr Group and PetXL have enjoyed a longstanding relationship, making this merger a natural progression in their collaboration. By combining resources, adding significant synergies, scale, expertise, and market reach, the companies are well-positioned to deliver enhanced value to pet parents, employees, and stakeholders across the Nordics.

For further information, please contact:

Media Contact:
Christer Åberg
CEO
Pet Pawr Group AB
+46703906100
christer@zoo.se

About Pet Pawr Group (PPG):
Pet Pawr Group AB is the parent company of a group that specializes in companies providing products and services for pets. The company has now over 400 employees, operates in several markets in Europe and currently has a pro-forma turnover of over SEK 1.1 billion. President and CEO of Pet PAWR Group is Christer Åberg.

The Company was founded 1989 by the Hulthén family. Seceda Invest AB is the largest shareholder in the company with CEO Christer Åberg as a significant owner together with eEquity, Mandatum and now also Karbon Invest, the latter which through this merger will become one of the largest owners in PPG. PPG is a leading retailer in the Nordic Pet Industry with a rapidly growing e-commerce channel and 31 stores in strategically important locations in Sweden and Norway. The company is based in Stockholm, Sweden.

About PetXL:

PetXL operates 15 stores across Norway and has two well-known online brands, PetXL.no and Dyrekassen.

PetXL began its growth journey back in 2018 when Kaia Rugseth, Gorm Haaland and Bendic Klevstad Berget acquired the company. Since then, the company has gone through a significant transformation and put PetXL on the Norwegian map as one of the key players within the pet care sector, together with its majority shareholder Karbon Invest.