Musti Group acquires Zu

Musti Group plc acquires 100% of the shares of Zu, Produtos e Serviços para Animais, S.A., a retailer of pet food, accessories and vet services in Portugal, from MCRetail SGPS, the company reports in a media release. With the acquisition of ZU, Musti extends its network to 474 stores, 54 vet clinics, and 196 spas in 7 countries with 22% of sales online. The provisional purchase price of the transaction amounts to € 12.9 mio, paid in cash at closing.

‘Adding ZU to the Musti Group is a next step in our expansion outside the Nordics and Baltics,’ said David Rönnberg, CEO Musti Group. He wants replicate Musti’s Nordic market leadership in Portugal. ‘They join us on our journey to humbly understand the high needs of pet parents and our commitment to the continuous evolution of our offer to meet those needs.’

Zu operates 65 retail stores of which 24 include veterinary clinics in Portugal. The aggregated statutory turnover of Zu was € 27.6 mio in FY 2024 (21.1 mio in 2023) and the adjusted EBITDA (pre-IFRS) was € 0.8 mio (0.8 mio). In FY 2024 Zu had assets amounting to € 13.7 mio and liabilities amounting to € 10.3 million. Zu has a committed team of 340 employees supporting thousands of pet parents in Portugal.