Pet Store Snapped up by Private Equity Giant
UK’s biggest pet store is being snapped up by private equity giant Kohlberg Kravis Roberts. Pets at Home owner, Bridgepoint Capital, agreed to sell to KKR for a reported £950 million.
Cheshire-based Pets at Home, which has more than 250 stores and 4200 staff, will join a stable of KKR retail investments, including Alliance Boots and Toys R Us. Pets at Home, which also runs 54 veterinary centers, has enjoyed strong growth and been weighing up a sale or flotation for several months.
As well as pet food, the winter chill saw a 70% surge in demand for dog coats, while sales of rabbit hutch covers also rose.
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