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Pet Food News
on February 26, 2015

Burda to exit stake in rapidly growing Zooplus

Company says it would rather invest in expansion than pay dividend

German publisher Hubert Burda plans to exit its 30 percent stake in online pet supplies store Zooplus, according to a Reuters report.

Zooplus has seen shares rise 80% in the past year, valuing the company at EUR639 million (US$726 million). Its sales reportedly rose 34% in 2014 to EUR571 million. Because of its rapid growth, Burda’s digital chief Stefan Winners said, Burda would rather invest in expansion than pay a dividend.

"We want to invest in digital businesses that also make dividends possible," Winners told Reuters.

Burda said it intends to make its exit within the next two to three years.

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