Destination Pet was acquired by L1 Health in 2019; LetterOne aims to build a global leader in pet health and wellness services and committed up to $450 million of capital to the effort
- VitalPet is a leading network of high-quality animal hospitals across the US
- The acquisition significantly expands Destination Pet’s footprint and service platform to advance its integrated approach to delivering superior pet care
- Destination Pet was acquired by L1 Health in 2019; LetterOne aims to build a global leader in pet health and wellness services and committed up to $450 million of capital to the effort
HIGHLANDS RANCH, Colo., March 30, 2020 /PRNewswire/ -- Destination Pet today announced that it has completed the acquisition of VitalPet. Headquartered in Houston, Texas, VitalPet has 24 high-quality veterinary hospitals operating in seven states spanning from Texas to New York and specializes in providing best-in-class veterinary medicine to local communities.
The acquisition of VitalPet expands Destination Pet’s footprint adding an additional 24 veterinary hospitals to its network of superior pet care providers including veterinary medicine, overnight boarding, day care, grooming, and training services.
Integration teams have been engaged since the acquisition announcement, and the integration process is off to a successful start. Approximately 420 employees will be joining Destination Pet when all integration work and transitions are completed over the coming months.
“I’m extremely pleased to welcome our new VitalPet colleagues to the Destination Pet family,” said Shane Kelly, CEO of Destination Pet. “The combined skills and expertise of Destination Pet and VitalPet bring together world-class teams committed to the total health and wellbeing of the pet. We are well positioned to serve our customers across the full continuum of care with a comprehensive offering of high-quality veterinary care and integrated extending services.”
“The acquisition of VitalPet is a significant step in our growth strategy,” said Ivan Zhivago, Partner at L1 Health. “We are committed to investing in the vision of Destination Pet and aim to be a global leader in pet health and wellness services.”
About Destination Pet
Founded in 2017, Destination Pet is a leading pet health care and services company operating in 14 states across the United States. Focused on the complete well-being of the pet, the company takes an integrated approach to delivering high quality pet care and a convenient and streamlined customer experience for pet parents. With convenient access points to extending services including veterinary medicine, overnight and day care, grooming, and training, Destination Pet has built a comprehensive integrated offering and serves as a partner of choice for pet owners, veterinarians, and animal care specialists. Backed by more than a century of combined experience, Destination Pet is led by a world-class management team with a legacy of innovation in the pet care and services industry. For more information, please visit destinationpet.com.
About LetterOne
LetterOne was founded in 2013 and is an international investment business headquartered in Luxembourg. LetterOne’s strategy is to build a new portfolio of successful companies that are leaders in their fields and sectors. It makes long- term investments of its own capital in companies in which its sectoral experience and strategic and geographic expertise will improve performance and help companies grow. It has recruited world-class CEOs, sector investment teams and Advisory Boards to invest at scale. It buys and builds assets, which it can develop over time as platforms of long-term sustainable growth. It invests through L1 Energy, L1 Technology, L1 Health and L1 Retail.
CONTACT:
Krysta Butler
krysta.butler@destpet.com
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SOURCE Destination Pet
