JAB Holding Company (JAB) has recently ANNOUNCED that it has acquired a majority interest in Pumpkin Insurance Services Inc. (Pumpkin), a pet insurance provider launched by Zoetis (NYSE: ZTS) in 2020. Zoetis will maintain a significant minority stake in Pumpkin and continue its commercial partnership with the business. Financial terms of the transaction were not disclosed.
The JAB Holding Company also has a controlling stake in National Veterinary Associates (NVA) which owns and operates approximately 1,400 general practice veterinary hospitals in addition to equine hospitals and pet resorts.
JAB’s global pet insurance portfolio includes leading brands such as AKC, ASPCA, Figo, Pet Partners and Pets Plus Us in the United States and Canada, and Agila, Animal Friends, Assur O’Poil, Everypaw and Pet Protect in the U.K. and Europe.
- Pumpkin: Zoetis launches new pet health startup offering insurance for cats and dogs (7.10.20)
- JAB to acquire Figo, Expands Pet Insurance Platform (11.1.21)
- JAB’s access to large amounts of consumer spending data at its veterinary clinics will help the firm price premiums accurately, he said, as opposed to insurance “legacy players who by their own admittance don’t understand the pet care market well,” according to David Bell (senior partner at JAB).