Roark Capital Group Acquires Pet Supermarket
Represents Roark's 43rd Multi-Unit Brand and 4th Pet Specialty Retail Investment
SUNRISE, Fla. - May 13, 2015 // PRNewswire // - Roark Capital Group, an Atlanta-based private equity firm focused on consumer brands, announced today that its affiliate has acquired Pet Supermarket, the Southeast's leading pet specialty retailer, from Charles E. West, Jr., the Company's founder. Pet Supermarket will remain headquartered in Sunrise, FL, and continue to be led by Diane Holtz, its Chief Executive Officer.
Pet Supermarket operates 155 pet specialty retail stores in 11 states generating over $300 million of revenue. The Company offers customers a broad assortment of premium and holistic pet food and supplies with friendly and knowledgeable service.
Roark Capital has acquired 43 multi-unit brands which collectively generate $17 billion of annual system revenues through 20,000 locations that operate in 50 states and 72 countries. Pet Supermarket is Roark's fourth pet specialty retail investment.
"We are pleased to welcome Pet Supermarket to the Roark family," said Ezra Field, Managing Director of Roark Capital. "Diane and her team operate a terrific pet specialty chain with friendly, knowledgeable staff that is clearly committed to customer service."
"We are excited to have Roark as our growth partner," said Diane Holtz, Pet Supermarket's CEO. "Roark brings to us incredible resources, consumer retail knowledge, and a collaborative approach to working with its portfolio companies that will enable us to accelerate Pet Supermarket's growth."
Commented Neal Aronson, Roark's Managing Partner: "We are grateful to Pet Supermarket's founder, Chuck West, for entrusting us with the brand and business he established."
Financing for the transaction was arranged by Golub Capital. Pet Supermarket was represented by Houlihan Lokey. King & Spalding and DLA Piper represented Roark as legal counsel. Greenberg Traurig and Webber, Hinden, McLean & Arbeiter represented Pet Supermarket as legal counsel.
About Pet Supermarket
Headquartered in Sunrise, FL, Pet Supermarket is the largest specialty retailer of pet food and pet-related supplies based in the southeastern US. The Company operates 155 stores offering customers a broad assortment of premium and holistic pet food and supplies with friendly and knowledgeable service. Over 1 million customers are active members of the Company's loyalty program. For more information please visit www.petsupermarket.com.
About Roark Capital Group
Roark focuses on consumer and business service companies, with a specialization around franchised and multi-unit business models in the retail, restaurant, consumer and business services sectors. Since inception, Roark has acquired 43 franchise/multi-unit brands, which have generated $17 billion in annual system revenues from 20,000 locations in 50 states and 72 countries. Roark's current brands include Anytime Fitness, Arby's, Atkins Nutritionals, Batteries Plus Bulbs, CKE Restaurants (the owner of Carl's Jr. and Hardee's), Corner Bakery, Driven Brands (the owner of MAACO®, Meineke Car Care Centers®, Merlin 200,000 Mile Shops, Pro Oil Change, and Econo Lube & Tune), FOCUS Brands (the owner of Auntie Anne's Pretzels, Carvel Ice Cream, Cinnabon, McAlister's Deli, Moe's Southwest Grill, and Schlotzsky's), Il Fornaio, Massage Envy, Miller's Ale House, Money Mailer, Pet Valu, Primrose Schools, Waxing the City, and Wingstop. For more information, please visit www.roarkcapital.com.
SOURCE Roark Capital Group