Brazilian Petlove&Co Acquires Nofaro
Petlove&Co, the largest online platform for pet products and services in Brazil, has acquired pet health plan company Nofaro. The holding company now has a 100 percent share in Nofaro, the business that is consolidating itself as the country’s largest online pet health company. The acquisition makes Petlove&Co a leader in animal health; in the next two years it expects R$ 500 million in revenue in the sector.
The goal of the operation is to strengthen the Petlove&Co ecosystem’s portfolio of products and services. This is the holding company’s sixth acquisition in the last three years, a reflection of the strength and growth of its ecosystem.
As a result of the operation, Petlove&Co’s customer portfolio in the health sector now includes more than 70,000 pets and almost 1,000 accredited partners. The company has been operating on this market since April 2021. According to Talita Lacerda, CEO of Petlove&Co, the company expects to double its customer count by the end of 2022.
“Brazil is the second-largest pet market in the world and, with that throughput, Petlove&Co has increased its leadership in the pet-health sector with a new company that has a strong presence in online sales. The merger will also allow us to include state-of-the-art tools and to grow the accredited network, with regions in addition to those where we already have a strong presence, which will bolster our ecosystem”, explained Talita.
Nofaro is a Brazilian startup that has enjoyed huge success on the pet-health-plan market, with strong growth year upon year. More than 25 thousand pets and 600 accredited clinics and veterinary hospitals have used the service. The company is present in Porto Alegre, Caxias do Sul, Curitiba, Belo Horizonte, São Paulo and Campinas.
“We will continue to operate with the Nofaro brand, maintaining our pillars of innovation and simplicity. It’s an opportunity to further expand our businesses across the whole of Brazil”, noted Filipe Machado and Murillo Trauer, Nofaro’s founders.