Mark Berriman, the entrepreneur who launched the online PetSupermarket brand, has announced he has sold the company behind the retailer to MedicAnimal Limited for an undisclosed fee.
Viverdi, the company behind PetSupermarket, was set up by Berriman in 2003. Viverdi originally operated an online gifts company, before its founder saw a gap in the market for specialist pet supplies at affordable prices.
From an annual turnover of £500,000 in its first 12 months, PetSupermarket grew ten-fold before its sale in October 2011. Viverdi was sold on a share purchase basis, with Berriman retaining intellectual property rights for the ‘back-end’ technology. The agreement also stipulated that he would remain in the business for six months and provide on-going support at the end of that period.
Speaking about the success of his business, despite little or no investment, he said: “For the past seven years I put my life into launching and developing PetSupermarket, however I have recently had problems outside of work, which forced me to take stock of my life and I decided that the time was right to sell the business.
“Developing a business on your own can be all-consuming and I thought the time was right for a change, but I also wanted to sell a company which I felt shared the same beliefs as me crucially, putting the pet first.”
Ivan Retzignac of MedicAnimal Limited added: “Mark built a fabulous business with a very strong team. PetSupermarket’s focus on delivering an outstanding and personalised customer service and buying experience fit perfectly with MedicAnimal’s own objectives, and we look forward to taking the brand to the next level.”