JAB Holding Company’s (JAB) European pet insurance platform, Pinnacle Pet Group (PPG) is to acquire 100% of the shares of AGILA Tierversicherung AG (AGILA), a German specialist in pet insurance, from the WERTGARANTIE Group.
In return, the WERTGARANTIE Group will become an investor in PPG.
The transaction is expected to close in Q4 2022, subject to customary closing conditions, including regulatory approvals. The parties have agreed not to disclose the financial details of the transaction.
With JAB’s support, PPG will be built into a leading Pan-European platform for animal insurance through strategic investments and organic growth. The WERTGARANTIE Group will also continue to support PPG successful German activities as a relevant shareholder. AGILA will be an essential component of PPG’s expansion. All employees at the Hanover headquarters will join the platform and will play a key role in PPG’s expansion. Patrick Döring, CEO of the WERTGARANTIE Group and outgoing CEO of AGILA, will join the Board of PPG as the Group’s representative, allowing it to continue benefiting from his decades of experience in the fast growth animal insurance market.
