Ethical pet retail chain Pets Corner has acquired the entire shareholding of its competitor business PamPurredPets. The company spent £6 million on the purchase. Cavendish Corporate Finance advised Pets Corner on the debt facility used to complete the deal.
The acquisition will add another 51 stores to Pets Corner’s holding company’s existing UK portfolio of 110 shops, making it the second biggest pet chain in the UK by store numbers and EBITDA (earnings before interest, taxes, depreciation and amortisation).
Pets Corner will continue running PamPurredPets as a separate entity but plans to rebrand the stores, which are located across southern England and Wales, over the next few years and add Pet Practice veterinary concessions to seven of the locations.
PamPurredPets’ staff will be introduced to the Pets Corner classroom based training programme.
Pets Corner’s managing director Dean Richmond said: “PamPurredPets’ stores are ideally positioned to complement and enhance our existing portfolio and reach our core customer base.
“The addition of PamPurredPets enables us to bring the Pets Corner Difference to new customers whom we hope will enjoy the benefits of our exceptional expert advice and high quality products in a place that is convenient for them.”