Pet Supplies Plus in Livonia to be Sold for $700M
Sentinel Capital Partners, a private equity firm that invests in lower midmarket companies, today announced plans to sell Livonia-based Pet Supplies Plus, the third largest pet specialty chain in the U.S., to Franchise Group Inc. The deal is valued at $700 million.
Founded in 1988, Pet Supplies Plus is a leading franchisor and operator of pet-specialty stores that provide a customer-centric shopping experience in smaller stores that have a neighborhood feel.
The retailer has 537 stores covering 36 states, up from 448 stores serving 33 states at the time of Sentinel’s acquisition two years ago.
The stores offer a streamlined design, which makes them easy to navigate, and a wide assortment of proprietary and third-party branded pet foods, hard goods, and pet services. The retailer also provides online shopping alternatives with same-day delivery from local stores or curbside pick-up.
“We are extremely pleased with PSP’s significant expansion and successful integration of new franchisees into its system,” says Marc Buan, a principal at Sentinel. “Pet Supplies Plus is the No. 1 pet franchisor in the U.S. in an attractive, growing market driven by loyal consumers passionate about pet ownership.”
Sentinel invests in franchise businesses, both as a franchisor and franchisee. Sentinel has acquired 14 franchise investments over the course of its history, including Border Foods, a franchisee in the taco Bell system; Captain D’s, a franchisor and operator of more than 530 Captain D’s seafood restaurants; and Checkers, a franchisor and operator of dual drive-thru quick service restaurants.
Other investments include Cottman Transmission Systems, Church’s Chicken restaurants, Fazoli’s, Interim Healthcare, Massage Envy, Pizza Hut, TGI Fridays, Tony Roma’s, Vital Care, and more.
“It was a pleasure to partner with Sentinel as we significantly grew the franchisee base through geographic in-fill and expansion into white space,” says Chris Rowland, CEO of Pet Supplies Plus. “Sentinel’s deep experience investing in franchise-related businesses was a great asset to us throughout this entire period.”
Pet Supplies Plus first opened a store in Redford, and today is the third largest pet-specialty retailer in the U.S.
Posted By: dbusiness on January 26, 2021. For more information, please click here to read the source article.
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