Musti ja Mirri, a Helsinki, Finland-based pet food retailer, announced that it had acquired Animail, a Stockholm, Sweden-based company selling pet food online.

The transaction, which has the financial details undisclosed, helps the Finnish retailer get to a 20% online market share in the pet food market, while, according to CEO David Rönnberg, the e-commerce penetration benchmark in the industry is 10-12%. After this deal, Musti ja Mirri will reach $240M in yearly turnover. The company, which is owned by EQT, operates a network of 250 pet specialty stores in Finland, Sweden and Norway – offering a wide range of pet supplies, accessories, foods and adjacent pet-related services.

Animail, founded in 2007 and led by CEO Alexander Olsson, had a turnover of SEK 95M ($11.2M) in 2016. The company is backed by investors such as Verdane, Nordic Etail and Optimizer Invest, all of which now exit the company.

About Optimizer Invest

Optimizer Invest is a venture capital company based in Malta. The company helps early stage businesses and entrepreneurs to develop and to reach their full potential with profitable growth. The founders and the Optimizer team have a successful background in iGaming, ecommerce and digital lead generation. They primarily invest in consumer-oriented and online businesses. Since the start in 2012, Optimizer Invest has invested in twenty something companies. The investment phase is still at an intense stage. optimizerinvest.com

Optimizer Invest has part-ownership in the following companies:

CATENA MEDIA, CONSECTOR, CROWNSTUDENT.COM, EASY PAYMENT GATEWAY, GAMING INNOVATION GROUP, HERO GAMING, INVESTOO.COM, PENSIONERA.SE, READLY, REVE, SEQURA, TINITELL