Business Wire

JAB’s Pinnacle Pet Group Expands Through Acquisition of Veterfina’s European Pet Insurance Business

Share

JAB Holding Company (“JAB”) is pleased to announce the signing of a definitive agreement through which Pinnacle Pet Group (“PPG”) will acquire 100% of the shares in Veterfina Verzekeringsmaatschappij N.V. and its European subsidiaries (“Veterfina”), one of the largest and fastest growing pet insurance businesses headquartered in the Netherlands. The transaction is expected to close in Q4 2022, subject to customary closing conditions, including regulatory approvals. Financial terms of the agreement were not disclosed.

As part of the agreement, founder and CEO Nico Schuurbiers will continue in his current role and maintain a minority stake in PPG alongside co-founder Han de Groot. PPG will provide significant growth equity to accelerate the European expansion and development of Veterfina’s multi-brand and omni-channel strategy. This will include the introduction of FIGO, JAB’s D2C pet insurance brand and digital platform, in select European markets.

We share JAB’s ambitions for the pet insurance market and are highly energised by the opportunity to work with the rest of the group,” said Mr. Schuurbiers. “We have achieved great success in the Dutch market, but with the support of JAB’s pet insurance ecosystem, we can accelerate our geographic expansion and digital offering, starting in Belgium this year.”

Today’s news follows JAB’s recently announced acquisition of AGILA Tierversicherung AG (“AGILA”), the German market leader in pet insurance, from the WERTGARANTIE Group, and the acquisition of Cardif Pinnacle from BNP Paribas Cardif in October 2021.

We continue to see significant growth opportunities in the European pet insurance and pet healthcare sector,” said Joachim Creus, Managing Partner at JAB and Chairman of the JAB pet insurance platform. “Veterfina has a strong customer base and excellent product offerings in the Netherlands with a growing pan-European offering, which we will build on as we look to expand into new markets such as Belgium and France.”

We are thrilled to welcome Veterfina and its whole team to the Pinnacle Pet Group,” said Dirk Beeckman, CEO of JAB pet insurance platform and PPG. “Our ambition is to create the leading pet insurance platform globally, with the group benefiting from the knowledge and capabilities from each addition.

About JAB

JAB Holding Company invests in consumer-focused industries with attractive long-term dynamics, including strong growth prospects, attractive margin and cash flow characteristics, and proven resiliency. Together with JAB Consumer Partners, JAB Holding Company is the largest shareholder of Keurig Dr Pepper, a leader in the North American beverage market and Krispy Kreme Doughnut, a global leader in doughnuts and other premium-quality sweet treats, and has controlling stakes in JDE Peet’s, the largest pure-play fast-moving consumer goods coffee company in the world; NVA, one of the world’s largest animal care services platforms; Independence Pet Group, a fully integrated leading North American pet insurance platform; Pinnacle Pet Group, a fully integrated leading pan-European pet insurance platform; Panera Brands, one of the world’s largest fast casual restaurant companies, which includes Panera Bread, Caribou Coffee and Einstein Bagels; Pret A Manger, a leading company in the ready-to-eat food market; and Espresso House, the largest branded coffee shop chain in Scandinavia. JAB Holding Company is also the largest shareholder in Coty Inc., a global leader in beauty, and owns luxury goods company Bally.

About Pinnacle Pet Group

Pinnacle Pet Group (“PPG” or “the Group”) is a pan-European, fully integrated pet insurance & health services platform indirectly owned by JAB Holding Company. PPG’s ambition is to create the leading pet insurance and health services platform globally, outside North America. The Group offers a complete range of pet insurance products and services, catering to both animal owners, distribution partners, breeders, shelters, and veterinarians. The Group was established in 2021 through a joint venture with BNP Paribas Cardif, which transferred the majority ownership of Cardif Pinnacle to JAB. As the insurance subsidiary of BNP Paribas, BNP Paribas Cardif is the world leader in bancassurance partnerships and creditor insurance. Within the UK, Cardif Pinnacle developed products and services focused on the Pet Insurance market. In July 2022, JAB and PPG announced the acquisition of AGILA Tierversicherung AG (“AGILA”), the German market leader in pet insurance, from the WERTGARANTIE Group. AGILA AG is based in Hannover and was founded in 1994 as a subsidiary of WERTGARANTIE. AGILA is the market leader in animal health insurance for dogs and cats in Germany and Austria.

To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.

Contact information

The One Nine Three Group for JAB
Zach Siegel: zach@the193.com
Charlie Harrison: charlie.harrison@the193.com

About Business Wire

Business Wire
Business Wire



Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

Dubai Electricity and Water Authority PJSC announces AED 12.08 billion revenue and 3.30 billion net profit in the first half of 202213.8.2022 09:59:00 CEST | Press release

Dubai Electricity and Water Authority PJSC (ISIN: AED001801011) (Symbol: DEWA), the Emirate of Dubai’s exclusive electricity and water services provider, which is listed on the Dubai Financial Market (DFM), today reported its second quarter 2022 financial results, recording quarterly revenue of AED 7.01 bn and net profit of AED 2.61 bn. For the first half of 2022, DEWA’s revenue is AED 12.08 bn and net profit is AED 3.30 bn. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220812005416/en/ Dubai Electricity and Water Authority PJSC announces AED 12.08 billion revenue and 3.30 billion net profit in the first half of 2022 (Photo: AETOSWire) DEWA’s first half revenue increase of 15% to AED 12.08 bn was mainly driven by an increase in energy and water demand in Dubai. During the first half of 2022 energy demand increased by 6.3% and water demand by 6.4% compared to the same period in 2021. Revenue of DEWA’s majority owned subsidia

Mary Kay Inc. Continues Its Support of Women’s Empowerment at the International Women’s Forum Cornerstone Conference in Chile12.8.2022 18:33:00 CEST | Press release

Mary Kay Inc. continues its support of women’s entrepreneurship, empowerment and thought leadership as a sponsor of the 2022 International Women’s Forum (IWF) Cornerstone Conference. Taking place on 17-18 May in Santiago, the Conference convened global decision makers who explored the most pressing challenges to progress on gender equality for the Latin American region. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220812005257/en/ IWF Latinobarómetro MKI Latin American Women Democracy & Society from a Gender Perspective Research (Graphic: Mary Kay Inc.) For the first time ever, IWF commissioned groundbreaking research as part of its annual conference programming with funding by Mary Kay. Conducted by the Latinobarómetro founded by Marta Lagos, this research, titled “Latin American Women: Democracy & Society from a Gender Perspective,” is the first-ever analysis of a quarter of a century (1995-2020) of public opinion and at

Ipsen Completes Acquisition of Epizyme Expanding Its Portfolio in Oncology12.8.2022 17:35:00 CEST | Press release

Regulatory News: Disclaimer: Intended for international media and investor audiences only Ipsen (Euronext: IPN; ADR: IPSEY) today announced the closing of the definitive merger agreement under which Ipsen has acquired Epizyme, Inc. (Epizyme). Pursuant to the transaction, Ipsen acquires all outstanding shares of Epizyme for $1.45 per share plus a contingent value right (CVR) of $1.00 per share. Epizyme now operates as ‘an Ipsen company’ at deal close. As part of the transaction, Ipsen acquires Epizyme’s lead medicine, Tazverik® (tazemetostat), a first-in-class, chemotherapy-free EZH2a inhibitor, which was granted Accelerated Approval by the U.S. Food and Drug Administration (FDA) in 2020. It is currently indicated for adults with relapsed or refractory follicular lymphoma (FL) whose tumors are positive for an EZH2 mutation as detected by an FDA-approved test and who have received at least two prior systemic therapies, and for adult patients with relapsed or refractory follicular lymphom

Budweiser Celebrates 100 Days to The FIFA World Cup™ by Partnering with Messi, Neymar Jr. and Sterling to Drop Hundreds of Prizes For Fans Around the World12.8.2022 13:00:00 CEST | Press release

Tomorrow, Budweiser, an Anheuser-Busch InBev (AB InBev) global brand will “drop” prizes in select destinations in the lead up to the biggest global sporting event. As the Official Beer of the FIFA World Cup, Budweiser is giving fans the once-in-a-lifetime chance to experience the FIFA World Cup in person by dropping hundreds of red prize boxes in major cities that include signed memorabilia, a year’s supply of Budweiser, and the grand prize of a trip to the tournament. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220812005051/en/ Budweiser's QR code (Graphic: Business Wire) Beginning August 13, coordinates leading to prize boxes will be revealed to fans who scanned exclusive Budweiser QR codes. These exclusive QR codes were shared on Budweiser and athlete partner social accounts earlier this week, spurring curiosity and excitement from eager fans. QR codes appeared in locations commemorating Messi, Neymar Jr. and Sterling;

Q4 Inc. Announces Second Quarter 2022 Results12.8.2022 13:00:00 CEST | Press release

Q4 Inc. (TSX:QFOR) (“Q4” or the “Company”), a leading capital markets communications platform, today announced its financial results for the three and six months period ended June 30, 2022. All amounts are expressed in US dollars unless otherwise stated. “The second quarter results show our continued progress against our overall strategy and vision,” said Darrell Heaps, CEO of Q4. “We achieved double digit recurring revenue growth, driving product adoption with higher ARPA expansion growth, as our customers continued to renew subscriptions at record levels and increase their spend with Q4. Given the challenging macro environment, and with our peak investment period behind us, we are accelerating our path to profitability. With a focus on expanding our operating leverage, initiatives are underway to improve sales efficiency and utilize low cost geographies to drive down operating expenses. Combined with our gross margin expansion, these will bring forward our commitment to be cash and E

In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.

Visit our pressroom