Private Equity Firm Acquires Pet Supplies Plus
Pet Supplies Plus (PSP), which operates 448 franchised and corporate pet centers in 33 states, has been acquired by private equity company Sentinel Capital Partners. It's the latest acquisition by the private equity firm that has a history of franchisor and franchisee purchases, including such names as Taco Bell, Captain D's, Fazoli's, Huddle House, and Massage Envy.
"PSP is the #1 pet franchise system in the U.S. with an expanding footprint and a large white-space opportunity," said Marc Buan, a Sentinel Principal. "The pet industry is very attractive due to its stability, growth, and passionate consumer base. PSP has a strong position in the pet retail segment and a very loyal customer base. PSP has delivered consistent performance and steady growth. We are excited to partner with PSP during the next phase of its growth."
Pet Supplies Plus CEO Chris Rowland said, "We look forward to partnering with Sentinel, a firm with deep franchising expertise, to help us drive revenue growth and geographic expansion."
Sentinel Capital Partners specializes in buying and building businesses in the lower end of the midmarket in the United States and Canada in partnership with management.
Terms of the transaction were not disclosed.
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