Musti Group is strengthening its leadership amid international expansion. The Nordic pet care specialist has appointed Tobias Azevedo, general manager of Portuguese pet retailer Zu, to its group management team from 1 January 2026, following the recent acquisition of Zu.

“Tobias has an impressive understanding of the Portuguese and Iberian retail landscape, and we are happy to have him onboard to develop our growing business operations in Iberia,” CEO David Rönnberg said in the company’s press release today.

Musti acquired all shares in Zu earlier this month for EUR 12.9 million, paid in cash. Aside from Azevedo’s appointment, the company has not made other additions to its management team this year, according to Listeds data.

The move is underpinned by solid financial momentum. In the third quarter of 2025, Musti’s net sales increased by 14 percent to EUR 127.3 million, driven by strong growth in Norway and resilient performance in Finland and Sweden, based on its interim report.

“Musti’s positive trend continued in Q3. Strong sales growth underpinned further market share gains, extending our leadership in a rebounding market,” Rönnberg said in the quarterly report.

At the same time, profitability has come under pressure as the group invests in scale. Adjusted EBITDA margin declined to 13 percent in Q3, reflecting higher spending on logistics, digital platforms, and store development.

Azevedo’s appointment fits Musti's expansion-focused strategy. The Zu acquisition has extended Musti’s footprint to hundreds of stores and service points across seven countries, with online sales accounting for more than 20 percent of group revenue. Azevedo brings deep Iberian retail and e-commerce experience from his years at the Sonae Group, reinforcing Musti’s ambition to build a scalable European platform.