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Petdirect Gets Its Paws On Multimillion Dollar Investment That Will Leave Competitors Chasing Its Tail

Petdirect, a leading force in New Zealand's pet retail landscape, is poised for unprecedented growth following a substantial investment from Pencarrow Private Equity.

This cash injection is set to fuel Petdirect’s trajectory 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.

David Anderson, CEO of Petdirect, stated: "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.”

“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% over the last decade, Petdirect has crafted a unique 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.

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Jonathan Goldstone, a Managing Partner of Pencarrow, comments: “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.”

With this significant capital investment, Petdirect is poised to lead the pet retail landscape in New Zealand, offering an experience that goes beyond the ordinary for pet parents nationwide.

© Scoop Media

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