JAB's Pet Insurance Business Acquires Crum & Forster Pet and Pethealth from Fairfax
June 20, 2022
JAB Holding Company’s pet insurance platform (through Independence Pet Group) agreed to acquire Fairfax Financial’s interests in Crum & Forster Pet Insurance Group and Pethealth Inc., including their worldwide operations. Fairfax will receive $1.4 billion ( $1.15 billion cash and $250 million in seller notes) and will invest $200 million in JAB’s JCP V fund; the deal was expected to close in H2 2022 and expands JAB’s global pet insurance scale and capabilities.
- Buyers
- JAB Holding Company, Independence Pet Group
- Targets
- Crum & Forster Pet Insurance Group, Pethealth Inc.
- Sellers
- Fairfax Financial Holdings Limited
- Platforms
- Independence Pet Group
- Industry
- Insurance
- Location
- New Jersey, United States
- Transaction Type
- Addon
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