Jollyes owner mulls £100m sale
The private equity owner behind Jollyes is considering a sale of the retailer worth over £100m.
Kester Capital, which owns the pet retailer, is working with financial advisors at Houlihan Lokey on its “strategic options”, City sources told The Times.
Jollyes – which operates over 70 stores across the UK – sells pet food, leads, and toys, and recently started providing grooming and veterinary services.
Last week, Jollyes reported it had delivered its strongest ever trading period in the six months to the end of November, with like-for-like sales increasing 19%, whilst total sales grew by 31% to £70m.
This comes during a period of expansion for the retailer, as it aims to open between 20 and 25 new stores in 2024. During the six month period, Jollyes opened stores in Swindon, Belfast, Merthyr Tydfil, Harrogate, Widnes, Swadlincote, Reading and Hull.