20 June 2025 – Pet Network International (“PNI” or the “Company”), a portfolio company of A&M Capital Europe (“AMCE”), a London-based private equity firm with €650 million of commitments under management, has acquired Pet Republic Group, a leading pet care player in Serbia, comprised of Pet Republic d.o.o. (“Pet Republic”) and M&J Trade d.o.o. (“M&J”).
Founded in 2019, Pet Republic is an omnichannel retailer of pet food, supplements, and accessories, through a chain of seven stores based in Belgrade, Novi Sad and Niš, all of which we believe to be highly complementary to PNI’s existing footprint. Pet Republic’s stores will be converted to PNI’s Pet Centar banner, following the same approach taken in PNI’s prior acquisition of Zvjerinjak.
Founded in 2002, M&J is a leading wholesaler of high quality pet food, supplements, and accessories. M&J supplies premium products from international brands such as Monge and Natural Trainer into a fragmented base of customers, via distribution centres in Belgrade, Novi Sad and Niš.
The acquisition of Pet Republic Group is expected to bolster PNI’s presence in Serbia, drive cross-selling and cost synergies, and reinforce local leadership with the appointment of founder Marko Senic as PNI’s Head of Serbia.
Pet Republic Group represents PNI’s third acquisition since AMCE’s investment in September 2021.
AMCE and PNI were advised by PR Legal and Freshfields as legal advisers, Deloitte as financial and tax advisers, and Netox as IT advisers.
About PNI
Headquartered in Croatia, PNI is a leading omnichannel pet care retailer across five countries in Southeast Europe. PNI operates over 260 directly owned stores as well as eCommerce platforms in Romania, Croatia, Slovenia, Serbia and Bulgaria, under the banners Animax, Pet Centar, Maxi Pet, Mr. Pet and Dr. Stefanov, selling pet food, treats, accessories as well as a growing offering of value-add services such as grooming and veterinary advisory services.
About AMCE
AMCE is a London-headquartered private equity investment firm specialising in building pan-European platform companies through buy-and-build and organic growth initiatives. AMCE Fund I currently has €650 million of commitments, and Pet Republic Group represents AMCE’s thirty-second transaction across its eight portfolio companies. More broadly, AMCE is part of A&M Capital, a multi-strategy private equity investment firm that manages commitments totalling ~€6 billion across all its investment strategies. In addition, A&M Capital maintains a strategic association with Alvarez & Marsal Holdings, LLC, a leading global operationally focused advisory firm. For additional information, please visit AMCE’s website at www.a-mcapital.com/europe/.
