Mad Paws to be acquired by US-based Rover for $62 million

Sean Cao

23rd Jul 2025

Pet services company Mad Paws has entered into an agreement to be acquired by US-based Rover Group for approximately $62 million.

As part of the proposed deal, Rover will acquire 100 per cent of the shares on issue in Mad Paws by way of a scheme of arrangement. In return, each Mad Paws shareholder will receive $0.14 per share in cash.

The consideration implies a transaction equity value of $62 million and represents a premium of 87 per cent to the closing price of Mad Paws shares on Monday. 

The US buyer is only interested in acquiring the Mad Paws online marketplace business, which excludes the online pet pharmacy Pet Chemist, pet treat company Waggly and e-commerce brand Sash.

As a result, Mad Paws has agreed to divest its Pet Chemist division to VetPartners Australia for approximately $13 million and to close down the Sash and Waggly businesses. Upon the completion of the Pet Chemist sale, Howard Humphreys will also resign as an executive director of Mad Paws.

“Rover and its team have led the way in the pet care space since 2011, and we couldn’t be more thrilled to partner with them,” commented Mad Paws Group CEO, executive director and co-founder Justus Hammer. 

“We’re proud of the network of pet lovers we’ve built over the last decade, and we’re excited to tap into Rover’s experience as we continue striving towards our collective goal.”

Founded in 2014, Mad Paws’ pet care marketplace allows users to seek and provide pet sitting, hosting, walking, training and grooming services. 

The company expects to continue operating as its own brand based in Sydney under Hammer’s leadership following the acquisition.

The deal is still subject to shareholder, court and Foreign Investment Review Board (FIRB) approval, among other customary conditions.

Founded in 2011 and headquartered in Seattle, Rover operates an online marketplace for pet care with a footprint in 16 countries across North America and Europe.