Reports suggest the business is for sale, but the British pet retailer hasn’t confirmed.
News has surfaced that London-based private equity (PE) firm Kester Capital is working on “strategic options” for Jollyes, including the sale of the business for £100 million ($125.8M/€116M).
The Times published that the PE firm is working together with financial advisors at Houlihan Lokey, a global investment bank with expertise in mergers and acquisitions.
In a conversation with GlobalPETS, a spokesperson at Jollyes said that the company can’t comment on the market. “Jollyes is a successful and rapidly expanding UK pet superstore ambitious for further growth,” they added.
The rumors come a few days after the pet retailer released its earnings for the 6 months to 27 November 2023, where it hit total sales of £70 million ($88M/€81.7M). This is a 31% increase compared to the same period in 2022.
Like-for-like sales were also up by 19% compared to the previous year.
During the 6-month period, 8 new stores were opened. Earlier in the year, the pet retailer said it was on track to open its 100th store in 2023.
Jollyes was recently awarded by the Pet Industry Federation (PIF) as the Pet Retailer of the Year.
The latest articles
How pet parents will shop for their pets this Christmas
A new survey takes the pulse on holiday shopping trends in the UK, including popular categories and average spending.
Trends & Insights
22 Dec 2023
General Mills’ pet portfolio posts negative performance
Both revenue and net sales dropped by 4% in the last quarter amid less demand.
News
22 Dec 2023
Negotiations of new EU rules on sustainable packaging to kick off in 2024
The Council and the Parliament will start the legislative process to design regulations regarding the packaging and packaging waste proposal put forward by the European Commission last year.
Production & Packaging
21 Dec 2023
GET THE NEWSLETTER
Weekly newsletter to stay up-to-date
Discover what’s happening in the pet industry. Get the must-read stories and insights in your inbox.