Mars Petcare is to buy European animal hospital operator AniCura, as it expands its veterinary business amid a boom in pet-related spending.

Mars said on Monday it was buying the Swedish company from private investment firms Nordic Capital, Fidelio and other minority shareholders.

The deal is worth 1 billion to 2 billion euros (0.74 billion to 1.49 billion pounds), according to a source familiar with the matter.

The acquisition comes the week after Mars agreed to buy British veterinary services provider Linnaeus Group.

It is the latest in a string of petcare deals by Mars and others looking to capitalise on consumers’ increased spending on pets.