Veterinary Acquisitions in 2025

Kemin Industries has acquired Hennessy Research Associates, a Lenexa, Kansas-based contract research and vaccine manufacturing organization for animal health. The acquisition adds vaccine R&D, biological manufacturing and CRO/CDMO/CMO capabilities and more than 50 tenured scientists to Kemin's Kemin Biologics portfolio to expand its animal vaccine offerings.

Tractive, the Austria‑based leader in GPS tracking and pet health insights, has acquired Whistle, the connected pet wearable brand owned by Mars Petcare. The acquisition expands Tractive’s U.S. footprint, scales its customer base, and brings Whistle’s wellness and tracking technology into Tractive’s global platform.

K9 Resorts Luxury Pet Hotel and its largest franchisee group, Luxury Pet Hotel Investments, LLC (LPHI), have formed a 50-50 joint venture covering K9 Resorts' corporate-owned locations outside the Fanwood, New Jersey flagship. LPHI will assume day-to-day management of four resorts (Cherry Hill, NJ; Fairfield, NJ; Hamilton, NJ; Malvern, PA) as part of a partnership designed to accelerate franchise growth and allow K9 Resorts' corporate team to focus on franchise support and expansion.

A coalition of Metropolitan Animal Specialty Hospital (MASH) veterinarians together with Curo Pet Care have acquired the assets of MASH from Ethos Veterinary Health. The veterinarian-owners will lead operations while Curo, a San Francisco–based family-owned veterinary group, provides management support to ensure continued 24/7 emergency and specialty services at the Los Angeles facility.

PBI-Gordon Companies, Inc. has acquired TriviumVet, an Ireland-based animal therapeutics R&D company, adding the FDA-conditionally approved Felycin-CA1 and a broader pipeline to its PRN Pharmacal/ Pegasus Laboratories portfolio. TriviumVet will remain based in Waterford, Ireland with its management retained and integrated as a subsidiary while PRN Pharmacal readies commercial launch and expands its commercial team.

PAI Partners, via its PAI Mid-Market Fund, has agreed to acquire Nuzoa, the leading integrated animal health products and services distributor in Iberia, from Abac Capital. PAI plans to accelerate Nuzoa's growth through further consolidation in the fragmented Iberian market, expansion into other European markets and by developing additional vet-focused services such as digital solutions and laboratory diagnostics.

Custom Veterinary Services (a portfolio company of Align Capital Partners) has acquired Green Mountain Animal, LLC, combining capabilities in soft chew, powder and liquid pet health products. The combined business will be rebranded as CompletePet to create a larger CDMO/pet health products platform with expanded R&D, manufacturing and supply-chain capacity.

Best Friends Pet Care, a portfolio company of Mosaic Capital Partners, has acquired Paws Pet Resort, a regional pet resort and services company based in Sioux Falls, South Dakota. Peakstone served as exclusive M&A advisor to Paws Pet Resort; terms were not disclosed. The deal is an add-on to Best Friends Pet Care's platform to expand its pet care footprint and service offering.