Comitis Capital has acquired a stake in PetCo, an Austrian supplier of dog and cat food. No financial terms were disclosed.
4 October 2021 – Comitis Capital (“Comitis”) has acquired a stake in PetCo GmbH (“PetCo”), a leading Austrian supplier of super premium dog and cat food. With its three brands Dog’s Love, Cat’s Love and WOW, PetCo covers the entire premium and super premium segment. PetCo founders Stefan and Katharina Miklauz will continue to lead the company in the future and retain a significant stake. Joint goal of the partnership is to develop the company during its upcoming growth and expansion phase into a champion in the European market.
PetCo, based in Vienna, Austria, was founded in 2014 and is one of the leading suppliers of super premium pet food in the DACH region. Under its three brands Dog’s Love, Cat’s Love and WOW, PetCo offers a wide range of highest-quality, human-grade wet and dry food, supplements, and treats for dogs and cats. PetCo’s formulas are veterinarian-approved and made from 100 percent natural and sustainable, locally sourced ingredients. The company’s products are sold directly through the company’s web shop as well as specialized retailers in more than ten European countries.
The investment in PetCo is Comitis’ first growth partnership, through which the investor supports ambitious founders and management teams in jointly accelerating sustainable value creation. Comitis Capital has an experienced team of international investment experts and pursues a partnership-based investment approach focused on sustainability and integrity.
“PetCo’s successful track record, its focus on innovation and its excellently positioned brands have convinced us from the very beginning. Stefan and Katharina Miklauz have built an exciting business, which optimally covers the demands of the modern dog and cat holder. As such, PetCo represents an ideal entry platform into the fast-growing and resilient market for super premium pet food”, says Nikolaus Bethlen, Managing Partner at Comitis.
“We are excited about working with ambitious entrepreneurs and jointly driving their growth. In Stefan and Katharina Miklauz we have found such entrepreneurs. We share a common vision about developing PetCo into a champion in the European market for super premium pet food and we will support the company’s dynamic scaling and future growth with capital, expertise und access to our network”, adds Csanad Daniel, Partner at Comitis.
“Together with Comitis, we want to enter a new phase of accelerated growth. The entrepreneurial background and long-standing expertise of Comitis, paired with a value-oriented partnership approach have convinced us that Comitis is the right partner to support our further strategic development. We see tremendous growth potential for our brands in this partnership”, says Stefan Miklauz, CEO of PetCo.
Comitis was advised by wdp (Commercial), Orrick Herrington & Sutcliffe (Corporate, IP), Schindler Attorneys (Legal), Eight Advisory (Financial & Tax) and LeitnerLeitner (Tax).
About Comitis Capital
Comitis Capital is an entrepreneurial private equity company, founded in 2021, investing in fast-growing mid-market companies in Europe, primarily in the DACH region, with revenue of up to €200 million. Comitis focuses on growth-partnerships with profitable, high-quality companies characterized by sustainable business models to support their long-term growth with a high level of flexibility in terms of holding period and structures. Comitis aims to support ambitious entrepreneurs and management teams through a cooperative and value-oriented partnership approach.