The Courier & Advertiser (Angus and Dundee)
New pet project for Souter Investments
Stagecoach founder Sir Brian Souter’s family investment vehicle has completed an investment in a leading European pet supplies retailers.
Led by emerging markets asset manager The Rohatyn Group (TRG), the investors consortium successfully acquired Romanian-based Pet Product SRL and Slovenian group MIMAJA, which trades as Mr. Pet.
The acquisitions add to Souter Investments pet care interests after it invested in Croatia-based Pet Centar, a leading pet supplies retailer across south-east Europe.
The new additions are already significant players in the market, with Pet Product operating 80 small format and two larger stores in Romania as well having an established digital presence.
Mr Pet has 16 stores throughout Slovenia and an online portal.
TRG said the pet care market in the region was at an “exciting juncture” and presented an “extraordinary growth opportunity”.
John Berthinussen, investment director at Souter Investments, said: “We are pleased to support TRG in their strategy to leverage changing consumption patterns around discretionary spending on pets.
“By accelerating store rollouts, continuing to develop the group’s online and omnichannel offering, and by taking the business model to new territories all in a modern, customer centric fashion, we believe that an already market leading business can go from strength to strength.”
In 2018 Souter Investments also completed an investment in managed print and document services group DMC Canotec alongside Lyceum Capital, and Broadway Partners.
The firm has also completed a number of divestments in the year including the sale of a stake in Finnish intercity bus operator OnniBus.com, independent searching firm First Scottish Group, cycling brand Endura – an investment it held alongside Penta Capital – and Baywater Healthcare UK, which was held in partnership with private equity house Duke Street.