The heart of tech

This article was published on August 19, 2012


    Consolidation in the UK: Online pet food retailer MedicAnimal buys rival Petmeds

    Consolidation in the UK: Online pet food retailer MedicAnimal buys rival Petmeds
    Robin Wauters
    Story by

    Robin Wauters

    Robin Wauters is the European Editor of The Next Web. He describes himself as a hopeless cyberflâneur, a lover of startups, his family a Robin Wauters is the European Editor of The Next Web. He describes himself as a hopeless cyberflâneur, a lover of startups, his family and Belgian beer. If you'd like to know more about Robin, head on over to robinwauters.com or follow him on Twitter.

    MedicAnimal, the UK’s largest e-retailer of pet food and healthcare supplies, today announced the acquisition of Petmeds.co.uk, a rival online store for animal medicines, food and grooming products.

    Having raised £10 million (roughly $15.7 million today) in funding from Balderton Capital and Iris Capital back in May 2012, MedicAnimal says the acquisition is an important step towards its goal to become a European market leader.

    Kickstarted in late 2007, London-based MedicAnimal claims it currently provides over 1.5 million customers with pet healthcare advice. The company operates as an online veterinary dispensary and projects revenues of over £55 million (approximately $86.3 million) for 2012.

    As part of the agreement, Petmeds founder Ricky Thomas and his team will join the MedicAnimal staff. Post-acquisition, the combined company will employ almost 200 staff UK-wide.

    According to a report from This Is Money, Thomas started Petmeds with £15,000 of savings in 2006, shunned banks for financing, still owned 83 percent of the business and will thus net “millions of pounds” as a result of the sale.