Leading Nordic pet care company Musti Group has acquired 100% of the shares of Zu, a retailer of pet food, accessories and vet services in Portugal.

With the acquisition of ZU, Musti extends its network to 474 stores, 54 vet clinics, and 196 spas in seven countries with 22% of sales online.

David Rönnberg, CEO of Musti Group, said: “I’m extremely excited about what we can achieve together. Adding ZU to the Musti Group is a next step in our expansion outside the Nordics and Baltics. 

“We look forward to working with the ZU team to replicate Musti’s Nordic market leadership in Portugal. They join us on our journey to humbly understand the high needs of pet parents and our commitment to the continuous evolution of our offer to meet those needs – top quality, good value food and accessories, supportive pet care and vet services, and a fast and easy to use integrated online platform.”

ZU operates 65 retail stores of which 24 include veterinary clinics in Portugal. The aggregated statutory turnover of Zu was EUR 27.6 million in FY 2024 (21.1 million in 2023) and the adjusted EBITDA (pre-IFRS) was EUR 0.8 million (0.8 million). In FY 2024 ZU had assets amounting to 13.7 million (11.8 million)  and liabilities amounting to EUR 10.3 million (7.5 million). ZU has a committed team of c.340 employees (as of 25.11.2025) supporting thousands of Pet Parents in Portugal.

Musti acquires the shares of ZU from from MCRetail, a Sonae Group company. As MC is a part of the Sonae Group, the acquisition is a related party transaction. The provisional purchase price of the transaction amounts to  EUR 12.9 million, paid in cash at closing.