Sentinel Capital Partners Sells Pet Supplies Plus
Leading Independent Pet Franchisor Experiences Significant Growth
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NEW YORK, Jan. 25, 2021 /PRNewswire/ Sentinel Capital Partners, a private equity firm that invests in promising lower midmarket companies, today announced plans to sell Pet Supplies Plus ( PSP ), the third largest pet specialty chain in the U.S., to Franchise Group, Inc. The deal is valued at $700 million.
Founded in 1988 and headquartered in Livonia, Michigan, PSP is the leading franchisor and operator of pet-specialty stores that provide a customer-centric shopping experience in smaller stores that have a neighborhood feel. PSP blends the advantages of national scale with those of a friendly, local neighborhood pet store. Stores have a streamlined design, which makes them easy to navigate, and a wide assortment of proprietary and third-party branded pet foods, hard goods, and pet services. PSP also offer
Franchise Group Buys Pet Supplies Plus for $700M
Franchise Group Inc. (Nasdaq: FRG) is acquiring Pet Supplies Plus, a pet supplies retail chain, from
Sentinel Capital Partners for $700 million. The target operates more than 500 locations, with almost 60 percent of them franchised.
“PSP adds another franchise concept with strong unit economics, diversification into an economically resilient and secularly growing pet industry, and a brand that has and will continue to experience robust unit expansion from its franchise system,” says Franchise Group CEO
Brian Kahn. Franchise Group also owns
Liberty Tax Service, Buddy’s Home Furnishings, American Freight and
the Vitamin Shoppe.
Senior Editor
Private equity firm Sentinel Capital Partners plans to sell Pet Supplies Plus, the third largest pet specialty chain in the U.S., to Franchise Group, Inc. in an all cash transaction valued at approximately $700 million.
Founded in 1988 and headquartered in Livonia, MI, Pet Supplies Plus (PSP) is a franchisor and operator of pet-specialty stores that provide a customer-centric shopping experience in smaller stores that have a neighborhood feel. PSP blends the advantages of national scale with those of a friendly, local neighborhood pet store. Stores have a streamlined design, which makes them easy to navigate, and PSP also offers online shopping alternatives with same-day delivery from local stores or curbside pick-up.
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