Businessman sells PetCity pet stores and clinics to Finnish listed company
Magnum AS, owned by Margus Linnamäe, is selling the PetCity chain of pet stores and clinics to Musti Group Plc, a Finnish stock-listed company operating in the Nordic market. The parties have not disclosed the transaction price.
Musti Group, which operates under the Musti ja Mirri, Arken Zoo, and Musti brands in the Nordic countries, is listed on the Helsinki Stock Exchange. The company's revenue last year reached €426 million.
PetCity, which was founded in 2015, will continue serving customers in Estonia, Latvia and Lithuania. The chain includes 46 stores and 16 pet clinics.
Magnum will focus on its core businesses, including the wholesale and retail of human and veterinary pharmaceuticals and other pharmacy products, the Apotheka franchise and the sale of dental care products.
Magnum's group companies will continue their professional cooperation with PetCity in the future.
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Editor: Barbara Oja, Marcus Turovski
