The German Reimann family is managing a substantial share of its multi-billion wealth through the Luxembourg-based JAB Holding. JAB holds investments in companies like Coty, Reckitt Benckiser or various coffee companies like Jacobs or Keurig Green Mountain. The most recent investment is heading in a completely new direction.
Acquiring a majority-stake in Compassion First Animal Clinics
JAB is buying a majority stake of the American company Compassion First from Quad-C Management, a middle-market private equity firm. Price and the exact acquired stake is undisclosed, it was just stated that the company is valued at $1.215B. Compassion First was founded by John Payne in 2014 and connects dozens of animal hospitals across the United States. According to JAB, the business has strong growth prospects and is profitable. The transaction is funded by the holding’s own equity, its Consumer Fund equity (from external investors) and debt.
The Reimann’s JAB Holding wants to diversify its portfolio through the transaction, thereby entering a new business field. The company wants to get access to the growing but still “defensive” pet care market.
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