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- €9M Bet on Vegan Dog Food
€9M Bet on Vegan Dog Food
Plus, Lassie surpasses €50 million, Sphinx breaks Kickstarter, $100M refinancing deal, Japans billion $ pet luxury boom, and way more...
Roy Ben Tzvi
June 06, 2025
In partnership with
Issue #199
June 5th, 2025
Take the bite out of rising vet costs with pet insurance
Veterinarians across the country have reported pressure from corporate managers to prioritize profit. This incentivized higher patient turnover, increased testing, and upselling services. Pet insurance could help you offset some of these rising costs, with some providing up to 90% reimbursement.
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Leading the pack - Lassie just surpassed €50 million in gross written premiums in under four years.
Is vegan dog food the future? - Investors just invested €9M in this German dog food brand, VEGDOG, and its mission.
Changing hands in a major deal - Roark Capital and partners sell C$576 million worth of Pet Valu.
Wellness Pet lands $100M lifeline - Wellness Pet Company has completed a $100 million refinancing deal aimed at supporting long-term growth.
This company just broke Kickstarter - Sphinx achieved full funding in just 13 seconds and reached 6,000% of its initial funding goal within 24 hours.
Ultrack acquires majority stake in Better Pets - Ultrack Systems has cemented its entry into the pet wellness sector by purchasing a 60% controlling stake in Better Pets.
Joining up again - Big Idea Ventures and Mars Petcare launch an initiative to accelerate sustainable innovation in the pet food sector.
Making their debut - Uproot Clean is launching in over 575 Petco locations nationwide this month.
Crowdfunding - Dog & Whistle is seeking $50K to turn surplus, human-grade ingredients into premium pet food.
Petco released its first quarter earnings call - here are a few highlights👇
Petco’s net sales dipped 2% year-over-year to $1.49 billion in Q1 2025, reflecting softness in consumables and supplies, though services sales continued to grow and partially offset the slide in product categories.
Adjusted EBITDA jumped $13.8 million to $89.4 million, lifting the adjusted EBITDA margin to 6.0% from 4.9% a year ago, driven by gross‐margin expansion (up 30 basis points to 38.2%) and disciplined SG&A controls.
The company turned a Q1 operating profit of $16.4 million (versus an operating loss in Q1 2024) and narrowed its net loss to $11.7 million—a 75% improvement—thanks to stronger profitability levers and lower restructuring costs.
Management reaffirmed full‐year 2025 guidance, calling for net sales down low single digits and adjusted EBITDA of $375 million–$390 million (inclusive of tariff headwinds). Q2 2025 guidance anticipates net sales down low single digits and adjusted EBITDA of $92 million–$94 million.
As part of its multi‐phase turnaround, Petco closed a net 5 stores in Q1 (versus 25 net closures in FY 2024) to optimize its fleet, bolstered liquidity ($617 million available), and remains focused on expanding gross margin, leveraging operational efficiencies, and prioritizing ROIC on its $1.50 billion net debt base.
Federal jury sides with MoeGo - GrooMore found guilty; decision protects ethical pet care tech innovation.
AI-Haptic vest guides blind dog - Rice University’s new AI-enabled haptic vest helps blind dogs navigate.
Heroic teen trapped saving family dogs - California teen rescued after daring attempt to save beloved pets.
Lost dog’s 100-mile journey - Amber survived 36 days, swam to an island, and returned safely home.
Smelly lawsuit against Purina dismissed - Residents dropped lawsuit over “rancid” Purina plant odors; new suit filed soon after.
Mondi-Saga sustainable pet packaging debut - Partnership replaces multi-material plastics with recyclable mono-material packaging.
🚨 Check out our latest episode with Adam Greenbaum 🚨
Strategic Investor / Capital Partner at Live Work Pet
Vice President of Finance at Tuft + Paw
Director, Growth Marketing at Barkbus
Sr Content Strategy Manager at Embark
Vice President of Marketing at Embrace Pet Insurance
Senior Manager, Lifecycle Marketing at The Farmers Dog
Associated Director, Integrated Marketing at Chewy
Director, Influencers & Partnerships at The Farmer’s Dog
Senior Manager, Merchandise at PetCo
Director of Growth Marketing at Sunday For Dogs
Content/Lifecycle Marketing Manager at Vetted Pet Health
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Mega Dog Adoption Event in Tampa Bay, Florida
Spots Last Stop Canine Rescue pet adoption event in Eden Prairie, Minnesota
Two cool events this June in Georgetown, Texas
Free pet adoption event in Richmond, California
Open house fundraiser in Santa Monica, California
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