The private equity owner of pet specialist retailer Jollyes is understood to be considering a sale of the business for more than £100m.
City sources told The Times that the retailer’s private equity owner, Kester Capital, is working with financial advisors at Houlihan Lokey on “strategic options” for the business.
Jollyes, which sells pet food, dog leads and toys, has over 70 stores across the UK and has recently expanded into into providing grooming and veterinary services in its branches.
Get the week’s top news delivered directly to your inbox – Sign up for our newsletter
Last week, the business revealed it had delivered its strongest ever first half trading performance in the six months to 27 November.
Like-for-like sales for the retailer surged 19% over the period, while total sales rocketed 31% to £70m.
Jollyes continued with its expansion plans, opened eight new stores in the six months in Swindon, Belfast, Merthyr Tydfil, Harrogate, Widnes, Swadlincote, Reading and Hull.
Source: Retail Gazette
Can’t stop reading? Read more
Apollo maintains discipline as it withdraws $2.1bn bid for Papa John’s
Apollo maintains discipline as it withdraws $2.1bn bid for Papa John’s Apollo Global Management...
Microsoft partners with Silver Lake-backed G42 for $15bn UAE data centre expansion
Microsoft partners with Silver Lake-backed G42 for $15bn UAE data centre expansion Microsoft and...
Monarch Collective makes first European investment with 38% stake in FC Viktoria Berlin Women
Monarch Collective makes first European investment with 38% stake in FC Viktoria Berlin Women US...