Sentinel Capital Partners, a private equity firm that invests in promising lower mid-market companies, has closed its sale of Pet Supplies Plus (PSP), the third largest pet specialty chain in the US, to Franchise Group, Inc.
The deal is valued at USD700 million.
Founded in 1988 and headquartered in Livonia, Michigan, PSP is the leading franchisor and operator of pet-specialty stores that provide a customer-centric shopping experience in smaller stores that have a neighbourhood feel.
PSP blends the advantages of national scale with those of a friendly, local neighbourhood pet store. Stores have a streamlined design, which makes them easy to navigate, and a wide assortment of proprietary and third-party branded pet foods, hard goods, and pet services. PSP also offers online shopping alternatives with same-day delivery from local stores or curbside pick-up.
Source: Private Equity Wire
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