London-based MedicAnimal, which sells pet food and healthcare supplies online, has bought Petmeds.co.uk.
The online retailer has investors including LOVEFiLM and Betfair backer Balderton Capital and Iris Capital.
The business was founded in October 2007 by businessman Ivan Retzignac and veterinary surgeon Andrew Bucher, and is projecting sales of £55 million for 2012.
MedicAnimal was backed by Balderton and Iris through a £10 million deal in May 2012 as part of its Series C funding round.
At the time Mark Evans, partner at Balderton Capital, joined the board of MedicAnimal alongside Alexander Wiedmer of Iris Capital and former managing director for Europe at IAC/InterActiveCorp Cesar Mascaraque.
MedicAnimal’s Series A round came back in October 2010 when it netted £5 million and attracted Iris Capital as a backer.
According to the business, the acquisition of London business Petmeds.co.uk is an ‘important step’ in its long-term development plan.
Going forward it plans to make a number of strategic acquisitions alongside continued organic growth.
As part of the deal, Petmeds.co.uk founder Ricky Thomas and his team will join the MedicAnimal staff. On completion of the acquisition the business’ combined staff count will be almost 200 across the UK.
Retzignac, founder and CEO of MedicAnimal, comments, ‘This acquisition will cement MedicAnimal’s place as the UK leader in pet supplies and help us expand our business in Europe where the owners of nearly 200 million pets spend €2.5 billion annually.’