PetO has announced the acquisition of 41 new retail stores and 25 vet clinics following Petstock’s forced divestments.
The acquisition will make PetO the third largest player in the pet retail market, growing from 17 NSW based stores to 58 retail stores across the country, with an expectation of tripling its revenue to circa $200 million in the next financial year.
PetO will also absorb 25 vet clinics under the Our Vet brand. These businesses will continue to offer specialised in-house services and products to pet owners in Queensland, Victoria, and New South Wales.
Nick Greenhalgh, co-founder of PetO, says the expansion comes at the perfect time for PetO.
“Australia is right now experiencing record levels of pet ownership and increased demand for pet products. We couldn’t think of a more exciting time to be expanding across the country.
“At PetO, we think of ourselves as the cat and dog specialists. We know your furry friend is more than just a pet, they’re a member of your family – that’s why our business is centred around exceptional customer experience and expert advice. We’re thrilled to bring PetO ‘s passion for pets to new customers nationwide.”
As part of the nationwide expansion, the PetO team will grow tenfold to 1,000 staff. Existing staff from the acquired stores will be retained, while additional positions will be created within a new support team.
“We respect these brands, they have worked hard to develop strong recognition and their people are experts in their field. We are approaching the integration with curiosity and in consultation with the wider team, so we look forward to going on this journey together.”
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