Quarterly market outlooks, transaction commentary, and structural perspective on the businesses shaping animal health and pet care. Direct from our advisory team.
Growth normalizes, structural drivers intact
Growth is normalizing across animal health and pet care, but structural drivers remain intact. Diagnostics, integrated platforms, and long-acting therapeutics are pulling ahead. The affordability gap — vet prices ~50% above 2019 — is catalyzing the next care delivery cycle.
The same bet, made twice — through two very different doors
Two May transactions — Tractor Supply's acquisition of VIP Petcare and Bending Spoons' acquisition of Tractive — look unrelated. We believe they are the same bet made twice: own the recurring, data-rich relationship with the pet owner. Neither buyer is a traditional animal-health strategic.
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