In Q2 2024, the distribution industry encountered significant challenges, with share performance for major publicly traded distribution companies declining. Pet product distributors saw limited M&A activity despite the rising demand. Only one transaction was completed in the pet products vertical, where Rodenburg acquired FeedValid’s pet division, highlighting the scarcity of acquisition opportunities and the seller power in an already consolidated market. Presently buyers are prioritizing exclusive distribution rights to popular brands, a diverse and innovative product mix, and strong vendor relationships with a reliable supply chain when examining potential acquisition opportunities in the pet product vertical. Buyers are focused on acquiring distributors with a strategic product portfolio that includes premium and specialized products.