Wednesday, February 21, 2024
Wednesday, February 21, 2024
HomePet Industry NewsPet Insurance NewsJAB’s Pinnacle Pet Group Aquires European Pet Insurance coverage Enterprise

JAB’s Pinnacle Pet Group Aquires European Pet Insurance coverage Enterprise

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JAB Holding Firm is happy to announce the signing of a definitive settlement by means of which Pinnacle Pet Group will purchase 100% of the shares in Veterfina Verzekeringsmaatschappij N.V. and its European subsidiaries (“Veterfina”), one of many largest and fastest-growing pet insurance coverage companies headquartered within the Netherlands. The transaction is anticipated to shut in This autumn 2022, topic to customary closing circumstances, together with regulatory approvals. Monetary phrases of the settlement weren’t disclosed.

As a part of the settlement, founder and CEO Nico Schuurbiers will proceed in his present position and preserve a minority stake in PPG alongside co-founder Han de Groot. PPG will present vital development fairness to speed up the European growth and improvement of Veterfina’s multi-brand and omni-channel technique. This may embody the introduction of FIGO, JAB’s D2C pet insurance coverage model and digital platform, in choose European markets.

“We share JAB’s ambitions for the pet insurance coverage market and are extremely energised by the chance to work with the remainder of the group,” stated Mr. Schuurbiers. “We now have achieved nice success within the Dutch market, however with the help of JAB’s pet insurance coverage ecosystem, we will speed up our geographic growth and digital providing, beginning in Belgium this yr.”

Immediately’s information follows JAB’s not too long ago introduced acquisition of AGILA Tierversicherung AG, the German market chief in pet insurance coverage, from the WERTGARANTIE Group, and the acquisition of Cardif Pinnacle from BNP Paribas Cardif in October 2021.

“We proceed to see vital development alternatives within the European pet insurance coverage and pet healthcare sector,” stated Joachim Creus, Managing Accomplice at JAB and Chairman of the JAB pet insurance coverage platform. “Veterfina has a powerful buyer base and wonderful product choices within the Netherlands with a rising pan-European providing, which we are going to construct on as we glance to broaden into new markets comparable to Belgium and France.”

“We’re thrilled to welcome Veterfina and its entire staff to the Pinnacle Pet Group,” stated Dirk Beeckman, CEO of JAB pet insurance coverage platform and PPG. “Our ambition is to create the main pet insurance coverage platform globally, with the group benefiting from the information and capabilities from every addition.”

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