SÃO PAULO, April 19, 2021
/PRNewswire/ -- Petlove, the largest digital ecosystem for pet
owners in Brazil, and Health for
Pet, a branch of the Porto Seguro business group and leader in the
animal health insurance segment, announced the conclusion of an
agreement that will combine their operations within the Brazilian
market. After this transaction, Porto Seguro will hold a 13.5%
interest in Petlove and, in return, will transfer the ownership
rights of Health for Pet to the e-commerce company. This alliance
will also result in the launch of Porto.Pet, a service that will
replace Health for Pet's insurance activities and become part of
the Petlove ecosystem, whilst having Porto Seguro as a strategic
shareholder.
The main objective behind this merger is to strengthen Porto
Seguro and Petlove's portfolios by potentializing their growth and
expansion agendas, as well as focusing on what customers really
care about: the health and happiness of pets. From now on, Petlove
will operate on an expanded portfolio and Porto Seguro will be able
to offer Petlove's entire set of solutions to its customer
base.
The combination of the companies occurred a few months after
Petlove merged with DogHero, the largest pet services company in
Latin America, acquired Vetus, one
of the largest management systems for animal clinics, and received
significant contributions from Softbank and L Catterton.
Porto.Pet is currently responsible for 41 thousand lives in its
customer base and, after merging with Petlove, the company
accelerated its expansion plan for national coverage, meeting an
important criteria established by stakeholders. The possibility of
verticalization, as well as the creation of its own service units
for pets, are factors being considered. With this agreement,
Porto.Pet should become one of the largest integrated pet care
networks in Brazil.
"This synergistic enterprise reinforces our mission of becoming
the largest platform for pet products and services, while also
guaranteeing ultimate convenience to all links in the pet chain:
not only for pet tutors, but also for doctors, veterinary clinics,
hospitals and pet shops from all over Brazil," says Marcio
Waldman, founder of Petlove. "The combination between Porto
Seguro and the Petlove ecosystem, as well as the launching of
Porto.Pet, are important steps towards expanding our vetenarian's
sphere of influence within the brazilian market. These
professionals are our key to success", adds Waldman.
"It is an opportunity that will strengthen our objective of
integrating businesses, making client-centered decisions, and
expanding the number of solutions offered within the pet market.
Launching Porto.Pet and joining Petlove is an important step
towards accelerating Porto Seguro's strategic growth", explains
Marcos Loução, Vice President of Financial Business and Services at
Porto Seguro. "We want to improve the life of pet tutors by
developing a complete ecosystem dedicated towards Insurance,
Health, and Financial Services", adds Loução.
The agreement is subject to approval by the Administrative
Council for Economic Defense (CADE).
About Petlove
Created by veterinarian Marcio
Waldman, Petlove is the largest digital ecosystem for pets
in Brazil. In addition to Petlove,
other companies such as VetSmart, Vetus, and DogHero also
participate in the business group by offering solutions that
contemplate all spheres within the pet segment: doctors, veterinary
clinics and hospitals, pet shops and consumers.
With a portfolio that contains more than 15 thousand items,
including its own and exclusive brands, the company offers a
complete approach when it comes to animal care. Petlove has a
subscription service that offers a 10% discount on all its
portfolio, as well as appointments with veterinarians and
deliveries throughout the entire country.
The company also acts as a technology provider for the Brazilian
pet market and has more than 3000 partners, such as doctors,
veterinary clinics, hospitals and pet shops. With technologies such
as the Pet Profile, Petlove focuses on making pet owners' lives
more practical by bringing together, in one place, specialists,
products and helpful tips.
About Porto Seguro
Porto Seguro is more than an
insurance company, it is a network of protection services that
applies technological solutions to improve customer experience.
With more than 70 years of experience, the company's operations are
centered around four strategic business pillars: Insurance, Health,
Financial Products and Services. In addition to 8.4 million unique
customers, 13 thousand employees, 12 thousand providers and 35
thousand partner brokers, the company also has 101 branches and
regional offices throughout Brazil. Altogether, 27 companies are part of
the Porto Seguro universe - among them: Azul Seguros, Itaú Seguros
de Auto e Residência, Porto Seguro Saúde, Porto Seguro Serviços and
Porto Seguro Uruguay. In 2020, the company's net profit was
R$ 1,695.8 million. Porto Seguro's
primary objective is to accelerate growth whilst expanding new
business fronts to launch more innovative products and become a
Safe Harbor for everyone.
About SK Tarpon and Kamaroopin
Tarpon is a company where capital and talent are at the service
of entrepreneurship, innovation and corporate legacy. After 18
years of experience, the company recently decided to create an
ecosystem of new business leaders, each focused on specific
activities. Kamaroopin is one of these leaders and assists by
accelerating the growth of companies under collaborative
management. Its approach consists of the elaboration of highly
secure investment metrics related to changes in consumption habits.
In order to do this, Kamaroopin conducts strict approval processes,
valuing the business' legacy and existing talents, whilst
identifying opportunities for improvement to ensure business
growth.
Press Contacts - Loures
Consultoria
Petlove
Ana
Augusto - ana.augusto@loures.com.br - (11)
97113-5097
Olivia Moderno -
olivia.moderno@loures.com.br - (11) 96594-3608
Press Contacts - Corporate
Image
portoseguro@iccom.com.br
Antonio Júnior - (11) 3526-4568
Fabiana Couto - (21) 99742-9748
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SOURCE Petlove