Petdirect gets its paws on multimillion dollar investment
Petdirect is poised for unprecedented growth following a substantial investment.
Pictured above: Shane Bradley, Founder and David Anderson, CEO of Petdirect.
Pet retailer Petdirect is poised for unprecedented growth following a substantial investment from Pencarrow Private Equity.
This cash injection is set to fuel Petdirect’s ambition to becoming the nation’s #1 pet retailer, with a dual focus on enhancing its online platform and venturing into the physical realm of retail.
“We’re thrilled to announce that Pencarrow’s investment will accelerate our ambition of becoming New Zealand’s leading pet retailer, setting a benchmark for excellence. Our commitment is unwavering. Petdirect embodies reliability and accessibility for Kiwi pet parents at every life stage,” says David Anderson, CEO of Petdirect.
“Our goal is to craft an unmatched experience by providing a carefully curated selection of products, expert guidance, and unparalleled service. Poised to lead, we aim to be New Zealand’s first choice for pet enthusiasts, challenging any competition in our path.”
As pet ownership steadily rises in New Zealand, increasing by 13 percent over the last decade, Petdirect has crafted a specialised data-driven offering to ensure pet parents can purchase the right products for their fur babies.
Established in March 2020 by Shane Bradley, Petdirect quickly emerged as a prominent player in the online pet supply market. With two expansive warehouses covering 4,400 sqm in Christchurch and Auckland, and a dedicated team of 90 employees, the company has solidified its position as a challenger.
Known for its customer service and commitment to market-competitive pricing, Petdirect boasts 92,000 active customers and achieved the leading market share in the online pet speciality market by July 2023.
It’s this rapid growth that first attracted Pencarrow to the Petdirect brand.
“We specialise in backing companies with significant growth potential and ambitious, talented management teams – Petdirect ticked all the boxes. We’re confident this investment will help expedite Petdirect’s expansion and support the exciting plans Dave and the team have for the business,” explains Jonathan Goldstone, a Managing Partner of Pencarrow.
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