M&A Deal Summary

JAB Holding Company Acquires Pumpkin

On May 16, 2023, private equity firm JAB Holding Company acquired insurance company Pumpkin from Zoetis

Acquisition Highlights
  • This is JAB Holding Company’s 4th transaction in the Insurance sector.
  • This is JAB Holding Company’s 9th transaction in the United States.
  • This is JAB Holding Company’s 2nd transaction in New York.

M&A Deal Summary

Date 2023-05-16
Target Pumpkin
Sector Insurance
Buyer(s) JAB Holding Company
Sellers(s) Zoetis
Deal Type Divestiture

Target

Pumpkin

New York, New York, United States
Pumpkin is a provider of preventive care and pet insurance founded to help ensure pets live their longest and healthiest lives. The company plans offer dog and cat owners advanced veterinary care coverage for accidents and illnesses, and their optional Preventive Essentials non-insurance add-on offers life-threatening disease prevention through reimbursing for vaccines and the related annual wellness exam and lab tests, helping enable consumers to make data-informed care decisions based upon their individual pet's health needs. All pet insurance plans offered by Pumpkin provide reimbursement for covered care administered by any licensed veterinary clinic in the U.S. and Canada. Pumpkin is based in New York, New York.

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Buyer(S) 1

DESCRIPTION

JAB Holding Company is a global investment firm focused on acquiring companies with premium consumer and strong growth prospects. JAB will consider both minority and majority stakes. JAB Holding Company is headquartered in Luxembourg.


DEAL STATS #
Overall 13 of 15
Sector: Insurance M&A 4 of 6
Type: Divestiture M&A Deals 3 of 3
State: New York M&A 2 of 3
Country: United States M&A 9 of 11
Year: 2023 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-07-06 Petplan

Amsterdam, Netherlands

Petplan is a provider of pet insurance services. Petplan is based in Amsterdam, Netherlands.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-02-05 Prosperity Life Group

Roanoke, Virginia, United States

Prosperity Life Group is an insurance organization, which provides financial security to individuals and their families through innovative protection, supplemental insurance and asset accumulation products. Prosperity Life Group was founded in 2009 and is based in Roanoke, Virginia.

Buy -

Seller(S) 1

SELLER

Zoetis

Parsippany, New Jersey, United States

Category Company
Founded 1952
Sector Life Science
Employees13,800
Revenue 9.3B USD (2024)
DESCRIPTION

Zoetis engages in the discovery, development, manufacture and commercialization of a diverse portfolio of animal health medicines and vaccines designed to meet the real-world needs of veterinarians and the livestock farmers and companion animal owners they support. Zoetis was founded in 1952 and is based in Parsippany, New Jersey.


DEAL STATS #
Overall 1 of 2
Sector: Insurance M&A 1 of 1
Type: Divestiture M&A Deals 1 of 2
State: New York M&A 1 of 1
Country: United States M&A 1 of 2
Year: 2023 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-07 Basepaws

Torrance, California, United States

Basepaws is a petcare genetics company that builds early detection health risk tests based on genetic and microbiome data. The company is committed to companion animal health research, and it has the world’s first at-home genetic testing platform for cats. Basepaws was founded in 2017 and is based in Torrance, California.

Buy $50M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-04-28 Zoetis Medicated Feed Additive Portfolio

Parsippany, New Jersey, United States

Zoetis Medicated Feed Additive Portfolio comprises more than 37 product lines across cattle, swine, and poultry with six manufacturing sites, four in the U.S., one in Italy, and one in China.

Sell $350M