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KKR buys Pets at Home chain

Posted by James | Filed under supermarkets

Pet store chain Pets at Home has been bought by US Private Equity Firm KKR (Kohlberg Kravis Roberts) for a figure of £955 million which includes the firm’s debts. The brand becomes KKR’s third UK High Street acquisition – they also already have Boots and Toys R Us on their portfolio.

The buy-out provides a healthy profit for Pets at Home’s owners Bridgepoint who paid £230 for the chain in 2005.

KKR fended off rival bits from other private equity houses including Apax Partners, Bain and TPG, while Bridgepoint was also rumoured to be considering a stock market flotation.

Tags: buy-out, high street, pets at home, supermarkets