The holding’s Pinnacle Pet Group took over German pet insurer Agila and Dutch-based Veterfina.

The holding’s Pinnacle Pet Group acquired 100% of the shares of German pet insurer Agila and Dutch Veterina. The deals will be closed in the fourth quarter of 2022 under usual closing conditions.

As part of the deal, JAB’s European pet insurance platform will purchase 100% Agila shares from the Wertgarantie Group and the Wertgarantie Group will become investor in Pinnacle. Furthermore, CEO Wertgarantie Group and yet CEO of Agila, Patrick Döring, will become Group’s representative in the board of Pinnacle.

JAB will also acquire 100% of the shares in the Dutch pet insurance business Veterfina. In return Veterfina‘s CEO Nico Schuurbiers will remain in his position and preserve a minority stake in Pinnacle together with co-founder Han de Groot.

JAB aims to increase Pinnacle’s expansion to a leader in Pan-European platforms for animal insurance. All employees at the Agila headquarter in Hanover will change over to the platform to play “key role in Pinnacle’s expansion.”

“The strategic partnership between Pinnacle, JAB and Wertgarantie Group will transform the prospects for Agila,” noted Wertgarantie CEO Patrick Döring. “Over the last 25 years we have demonstrated that we can deliver above market growth in the German and Austrian pet insurance markets. With JAB’s financial strength and support, Pinnacle is an ideal long-term partner as we look to accelerate the growth of our business.”

To expedite Veterfina’s expansion, Pinnacle will allocate growth capital. As part oft he multi-brand and omni-channel strategy, FIGO will be introduced, a direct-to-consumer pet insurance brand and digital platform by JAB.

“Veterfina has a strong customer base and excellent product offerings in the Netherlands with a growing pan-European offering, which we will build on as we look to expand into new markets such as Belgium and France,” stated Joachim Creus, Managing Partner at JAB and Chairman of the JAB pet insurance platform.

The holding has already made plans about “significant” further investments in European’s pet insurance market.

JAB’s latest acquisition of Crum & Forster Pet Insurance Group and Pethealth amounted to $1.4 bilion (€1.39B).

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