Animax is a retailer with almost 80 stores and about 100 million lei (more than EUR20 million) sales in 2016, according to the latest available data. Cristian Ludovic Pop, who opened the first Animax pet store more than 15 years ago, started looking into the sale of the chain last year.
Rohatyn Group is a firm created by Nicolas Rohatyn and other partners in 2002. Nicolas Rohatyn had previously developed JPMorgan’s emergency markets business.
The buyer paid more than EUR20 million for Animax, according to market data, because the retailer is the undisputed leader of its sector, where its competitors are small stores and small chains. The value of the deal, however, is rather low, considering investment funds usually look for deals of more than EUR50 million or even more than EUR100 million.
Animax officials did not return ZF’s request for comment by the press time. Rohatyn Group officials said, ‘no comment’.
The entrepreneur made the decision to sell Animax at a good time because the business grew steadily in 2008-2016, largely fueled by expansion and by the increase in the number of people who decided to get a pet. Economic and consumer spending growth in 2015-2016 was also a factor.
(English version by Loredana Fratila-Cristescu)