By Cristina Roca
Zooplus AG said Friday that Hellman & Friedman LLC has increased its offer price to match a rival bid for the online pet-supply retailer.
Hellman & Friedman has increased its cash consideration for its voluntary public takeover offer to 470 euros ($542.97) for each Zooplus share, from EUR460 previously.
The new offer values the company at roughly EUR3.36 billion.
The private-equity firm, which would take over Zooplus through Luxembourg-based holding company Zorro Bidco Sarl, increased its offer to match an offer made by rival investment firm EQT AB's Pet Bidco GmbH holding company.
Zooplus said it will publish a statement on the modified offer in due course.
The German company has attracted interest from several investors, including U.S.-based KKR & Co., as they look to capitalize on a rise in pet ownership and an accelerated shift to online shopping during the coronavirus pandemic.
Zooplus posted sales of EUR1.8 billion in 2020, which it said captured about 7% of the European pet-supplies market, both online and offline.
Write to Cristina Roca at cristina.roca@wsj.com
(END) Dow Jones Newswires
10-08-21 0314ET