Pets at Home Buys Vets4Pets for Reported £40M

10 Apr

The UK pet store chain Pets at Home has expanded its business hugely with the purchase of the joint venture veterinary business, Vets4Pets. The acquisition is rumored to be in the neighborhood of £40 million and makes Pets at Home the proud owners of Vets4Pets’ 93 stand-alone locations.

 

Vets4Pets began just twelve years ago with the opening of a single clinic, and its success has now granted its owner a major windfall. Pets at Home already has 116 in-store veterinary clinics, thanks to its joint venture partnership with Companion Care. The company will continue to work with Companion Care while simultaneously integrating Vets4Pets into more of its stores. This will make them one of the largest veterinary chains in the UK.

 

“The expansion of veterinary business is a key element of our growth strategy for Pets at Home, providing additional services to our customers within our stores or close to our customers’ homes,” said Pets at Home CEO Nick Wood in a press release. “The acquisition of Vets4Pets is an important step in the delivery of this strategy. Vets4Pets is highly complementary for Pets at Home.”

 

Vets4Pets Founder and CEO Peter Watson plans on staying with the business despite its transfer in ownership. “Pets at Home holds a unique place in the retail landscape, built on a strong identity and a real passion for people and pets. It is clear to me that Nick and his team have a similar vision for their veterinary business,” he said.

 

Pets at Home was purchased in 2010 by U.S. private equity group, Kohlberg Kravis Roberts. Founded by Jerome Kohlberg, Henry Kravis and George Roberts in 1976, KKR specializes in leveraged buyouts and has participated in many notable buyouts in its thirty-seven years in business.

 

 

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