Rewe acquires a majority holding in Zooroyal

The Rewe Group has acquired the majority holding in the online pet product retailer Zooroyal. Rewe states that it has bought shares from existing shareholders as well as increasing the capital. The company co-founder and managing director Jürgen Grohs retains an interest in Zooroyal GmbH, as does the investment fund DuMont Venture, which is managed by Capnamic Ventures. The parties to the takeover agreed not to disclose details of the purchase price. The reason given for acquiring the majority holding by the Rewe board member responsible for e-commerce, Lionel Souque, was the strong growth in the online pet supplies market. According to Souque, the share of this market will double in the next five years from ten per cent to 20 per cent.