Pet store chain Maskota acquired Mexico’s pet e-commerce leader Petsy for an undisclosed sum, says investor ALLVP. However, the two companies will continue to operate independently, helping each other grow. Petsy will help Maskota develop a digital strategy, while Maskota will help Petsy expand regionally and create their first brick-and-mortar store.
Petsy has exemplified how e-commerce is dominating the Mexican retail market and the enormous opportunity that still exists in a digital commerce strategy. There are over 35 million pet owners in Mexico in a market of almost US$2B, according to ALLVP.
Said Fernando Lelo de Larrea, partner at ALLVP, in the original article for PulsoSocial:
“The sale of Petsy is not only a validation of ALLVP’s strategy, but also a clear example of what is possible in Mexico when venture capital supports entrepreneurial talent.”
Read more in the original article for PulsoSocial.