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.

Tesco has announced its strongest Christmas performance for three years, the retailer has announced.

According to a report in Talking Retail, the supermarket giant posted like-for-like sales growth of 4.9% excluding VAT and petrol, with its Double Clubcard points scheme contributing 0.7% of the sales growth in the six-week period to January 9th in the UK market.

The chain also saw strong sales of its Finest range, and sold 35% more bottles of Champagne than in 2008. Non-food performance also saw continued growth with improved like-for-like sales, driven by particularly good growth in clothing, electricals and toys.

Tesco’s sales growth also continued into their online operations with both food and non-food posting a combined growth of nearly 20% in the six-weeks while Tesco Direct saw sales growth increase by more than 50% with strong performance in toys, TV games and entertainment,

In the international sphere, Tesco saw a combined 4.1% increase from its Asia, Europe and US operations at constant exchange rates, and 2.5% at actual exchange rates.