UAE’s Aliph Capital buys The Pet Shop under first fund – Reuters

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DUBAI, Nov 17 (Reuters) – Abu Dhabi-based Aliph Capital, the Middle East’s first female-led private equity firm, said on Thursday it had completed a 100% buyout of UAE business Your pet Shop.

The investment, the value of which was not disclosed, is the first under the firm’s Aliph Fund I (LP), in which Abu Dhabi sovereign wealth fund ADQ invested $125 million, half its total.

“In addition to the acquistion, Aliph Capital is injecting significant growth capital into TPS to expand its presence across the UAE and the region and consolidate the leading position in the pet space, with TPS expected to enter other fragmented GCC markets including KSA (Saudi Arabia) and Qatar, ” Aliph said in a statement.

The Pet Shop, which owns the brands The Pet Shop, DubaiPetFood. com and Petsville, runs retail stores, the leading regional pet products e-commerce site and provides pet services from boarding to day care, training, relocation and grooming.

Petsville founder Amr Hazem will become chief executive of TPS in order to lead business development plus expansion, Aliph said.

Aliph, which targets medium-sized companies, said the pet care market in the UAE was worth $361 million in 2020 and was the largest in the Gulf, adding it is forecast to see a compounded annual growth rate of 9-11%.

Aliph plans to deploy its initial fund across around 10 to 12 companies, Chief Executive Huda al-Lawati told Reuters last month.

Reporting by Yousef Saba; Editing by Alexander Smith

Our Standards: The Thomson Reuters Trust Principles.

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