In This Issue
Raw dog food brand appears on Dragons' Den and accepts £60k investment offer
Meet the pet food firm ‘owned by the animals’
Strong seminar line-up at PATS Sandown
Ceva launches ADAPTIL Junior for puppies
Help to run a pet health plan is as important as fee collection, according to practice owners and managers
MDC signs UK exclusive deal for Aikiou
Innovation and excellence award for Broadreach Nature +
Soopa’s nutritional booster toppings a great success
IAMS' challenge to make a paws-itive change to pets' lives
Get your own copy of Pet Trade Xtra
Former owners of Just for Pets took heavy financial hit, accounts reveal
Podium Pet Products appoints Business Development Manager
‘Coldfeet’, mud and thrills at Aviemore!
BETA International 2018 – a big hit with the trade
The best of the previous Pet Trade Xtra
Private equity firm sells off remaining stake in Pets at Home
Pets at Home faces £2million bill over store closures
Pet food firms hit back at raw food claims
Pet retailer bucks online shopping trend
Exciting plans for the UK’s National Pet Trade Event
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Private equity firm sells off remaining stake in Pets at Home

 

The global private equity giant that acquired Pets at Home for a reported £955m in 2010 and floated the pet supplies retailer in 2014 has sold its remaining stake in the business in a £108m deal.

 

KKR, which floated the pet supplies retailer in 2014, sold just over 62m shares in the company at 174p a share, raising proceeds of around £108m.

 

The proceeds of the placing are payable in cash on usual settlement terms, and closing is expected to occur later this month. Merrill Lynch International and Numis acted as joint bookrunners on the placing.

 

Following completion of the deal, KKR will no longer have any shares in Pets at Home.

 

Earlier this week, shares in Pets surged after it reported a rise in third-quarter sales and said final guidance was unchanged. In the 12-week period to 4 January 2018, group revenue grew 9.6% to 223.3m, with group like-for-like revenue up 7.2%.

 

Merchandise revenue rose 9% to £193.4m, including omnichannel revenue up 77% to £13m, while services revenue grew 13.6% to £29.9m, including joint venture vet practice income up 19.3% to £12.1m.

 

At 3pm today, the shares were down 2% to 181.40p.

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