Pet retailer Jollyes has been sold to mid-market UK private equity firm Kester Capital in a deal advised by M&A company Cavendish Corporate Finance.
The UK retailer has over 70 superstores and concessions across the country and recently expanded its offering to customers to include grooming and veterinary services in store.
Kester’s investment will provide the company with the opportunity to significantly expand its network of stores and its service offering to its customers.
Cavendish Corporate Finance has previously advised on funding for specialist retail group Pets Corner and the sale of German pet treats manufacturer Gimborn to Chinese private equity firm Hillhouse Capital.
The Cavendish team was led by Jonathan Buxton, partner and head of consumer and retail.
Nick Pollard, shareholder of Jollyes, said: “The Cavendish team did an excellent job and provided expert advice throughout the transaction and most importantly ensured the deal crossed the line. I am pleased that Jollyes has passed into experienced hands and I truly believe the business has an exciting future ahead.”
Jonathan Buxton, partner at Cavendish Corporate Finance, added: “The Jollyes transaction shows that, despite the headlines, there is still considerable value in UK specialist bricks and mortar retail, especially where, like Jollyes, there is proof of a strong consumer following. It was a pleasure to work with Nick Pollard over the past few years and this preparation work was essential to the transaction achieved.
As well as building on our pet sector and retail experience, the Jollyes sale highlights Cavendish’s ability to develop creative Private Equity solutions to match our clients’ requirements.”