In This Issue
Private equity firm sells off remaining stake in Pets at Home
Pets at Home faces £2million bill over store closures
Pet retailer bucks online shopping trend
Pet food firms hit back at raw food claims
Exciting plans for the UK’s National Pet Trade Event
Putting an end to puppy farming in the UK
Leading UK firms heading for Gobal Pet Expo in March
Don’t make owning more than one cat a ‘cat’astrophe
Get your own copy of Pet Trade Xtra
Ex-Commercial Director at Vital becomes Fish4Dogs Sales Director
Pet expert raises 'pre-pup' issue as Ant McPartlin's custody row over dog is revealed
Mars hires new sales director
Prestigious award for WildWash at international trade event
AmPet Products wins Innovation & Excellence Award
The best of the previous Pet Trade Xtra
Pets at Home to close all seven of its Barkers high street stores
Sainsbury’s extends pet range with new food launch
Pet food firm launches new franchise business
£1.5m new investment at Inspired Pet Nutrition site
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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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