BC Partners has expanded its exposure in Greece with the acquisition of a controlling stake in Pet City, the country’s leading pet shop chain, after this market soared during the pandemic lockdowns.
With the transaction set for completion by the end of the year, the international fund management company is entering Pet City through BC Partners GR Investment LP, a special investment vehicle aimed at investing and supporting rapidly growing medium-sized enterprises in Greece.
The pet market is not unfamiliar to BC Partners. In 2015 it spent 7.5 billion euros to acquire Pet Smart, the biggest network of pet shops in the United States, which in 2017 also bought Chewy, a US online pet store with a capitalization of €28 billion today.
“We are happy to welcome Pet City in the BC Partners family and invest in the leader of the rapidly expanding Greek market of pet products and services,” said BC Partners’ Nikos Stathopoulos.
“Our confidence in the country’s future made us create BC Partners GR, a special investment arm seeking out investment opportunities in Greek enterprises,” he added.