New Zealand online pet retailer Petdirect has received a substantial investment from Pencarrow Private Equity.

The aim of the cash injection is to propel Petdirect to becoming New Zealand’s number one pet retailer by enhancing its online platform and venturing into brick-and-mortar retail.

David Anderson, CEO of Petdirect, said they were thrilled with Pencarrow’s investment, and it will accelerate their ambition of becoming New Zealand’s leading pet retailer.

“Our goal is to craft an unmatched experience by providing a carefully curated selection of products, expert guidance, and unparalleled service. Poised to lead, we aim to be New Zealand’s first choice for pet enthusiasts, challenging any competition in our path.”

Established in 2020 by Shane Bradley, the business quickly emerged as a prominent player in the online pet supply market. It currently has two warehouses covering 4,400 sqm in Christchurch and Auckland with a dedicated team of 90 employees.

Jonathan Goldstone, a Managing Partner of Pencarrow, said they’re confident this investment will help expedite Petdirect’s expansion and support the exciting plans Dave and the team have for the business.

“We specialise in backing companies with significant growth potential and ambitious, talented management teams – Petdirect ticked all the boxes.”

To stay up to date on the latest industry headlines, sign up to the Pet Industry News e-newsletter.