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Musti ja Mirri Group

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Musti ja Mirri Group

Country Finland
Region Helsinki-Uusimaa
Investor Vaaka Partners

When Vaaka Partners bought Finnish pet food and accessories chain Musti ja Mirri in 2010, the company needed outside help to develop further. Following investment, Vaaka installed a new and experienced management team to modernise the company. Musti ja Mirri has since been brought up to date with an improved store concept, together with enhanced product selections, procurement and customer service.

The chain has opened 17 new stores, taking the tally to over 100 in Musti ja Mirri’s home market. It also expanded into Sweden with the acquisition of the Grizzly Zoo chain, and is now Scandinavia’s largest pet goods retailer. These measures have dramatically improved performance.

Vaaka Partners, and the new board gathered by them, has enabled us to move quickly in transforming the business. After building a solid foundation in Finland in little over a year, we entered the Swedish market with the help of Vaaka.

Mika Sutinen CEO, Musti ja Mirri Group

What did the business need?

  • New management and systems for a larger group
  • Uniform concept for the chain
  • Better products, tailored for customer needs
  • Improved customer service and development of online presence

How did private equity backing create lasting value?

  • Strengthened the management team and implemented a new management structure
  • Introduced new IT systems to manage stock
  • Established a central warehouse that now supplies 85% of goods
  • Developed own brands and direct sourcing capability
  • Established online and multi-channel offering
  • Entered the Swedish market with acquisition of Grizzly Zoo chain
  • Established a strategic partnership with veterinary group Evidensia

What outcomes did private equity investment achieve?

  • Increased revenues from €25m to €80m over four years
  • Increased profits by 370% to €7million by 2014
  • Grew employment numbers by 27% a year from 161 to 322 jobs, of which 116 new jobs were created
  • Established the company as Scandinavia’s largest pet goods retailer

370%

increase in profits to €7m 2010-2014

116

new jobs created

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