MedicAnimal Ltd has agreed to acquire the online store for animal medicines, food and grooming products PetMeds.co.uk
MedicAnimal, one of the UK’s largest online retailers of pet food and healthcare supplies, operates as an online veterinary dispensary and pharmacy. The company recently secured a £10 million investment and projects revenues of over £55 million for 2012.
The UK pet food and supplies market has remained buoyant throughout the past few years. The Pet Food Manufacturers’ Association (PFMA) revealed in a recent survey that the 13 million pet-owning households in the country are more likely to cut back on restaurants, holidays and petrol before reducing the amount they spend on feeding or caring for their animals.
Petmeds’ acquisition is part of MedicAnimal’s long term development plan of consolidating the UK’s online pet retail market and become a European market leader. Founder of Petmeds, Ricky Thomas, and his team will join the MedicAnimal staff as part of the companies’ agreement.
CEO and founder of MedicAnimal Ivan Retzignac said: “This acquisition will cement MedicAnimal’s place as [a] UK leader in pet supplies and help us expand our business in Europe where the owners of nearly 200 million pets spend €25 billion annually.”
Image (L-R): MedicAnimal founders Ivan Retzignac and Andrew Bucher.