Musti ja Mirri pet store chain plans stock exchange float

The company has 227 stores in Finland, Norway and Sweden and could raise up to €50 million in shares.

File picture showing exterior of Musti ja Mirri store / Credit: Musti ja Mirri

The popular pet supplies chain Musti ja Mirri is planning an initial public offering IPO and listing shares on the Helsinki Stock Exchange.

The move would provide the parent company Musti Group with extra capital of up to €50 million for its growth strategy, according to a press release.

“The Musti Group is the leading pet food company in the Nordic countries, and our omnichannel business model addresses the needs of pets and their owners in Finland, Sweden and Norway” says CEO David Rönnberg.

“People increasingly treat their dogs and cats as family members and spend more money on high quality food and more diverse products and services” he adds.

Musti ja Mirri has 227 stores across three countries, including franchises as well as owned operations. In addition to pet food and non-food products like toys and beds, the chain also offers veterinary services, dog grooming and training at some of its stores.

The company reported net sales of €246.6 million in 2019.