Kennelpak, backed by Endless LLP, has completed the sale of leading pet retail chain Pets & Friends, following advice from international law firm Womble Bond Dickinson (WBD).
Kennelpak Limited has sold the pet specialist wholesaler's retail division Pets & Friends, noted for its exceptional service and pet nutrition expertise, to Just for Pets retail chain operator PSR Trading Ltd (PSR).
The sale sees Pets & Friends' 19 stores, 17 grooming salons, website and subscription service, dog training centre and it's Grooming Academy come under the PSR umbrella while retaining its current trading name and all staff.
Endless initially invested in Kennelpak in 2017 to support the management team in transforming the retail division into a strong service-led retail offering combining high-quality pet care services with a curated range of products and accessories.
The sale of the Pets & Friends retail division marks a strategic move for Kennelpak to accelerate the growth of its Wholesale and Distribution division.
A WBD team led by partner James Cook and managing associate David Ridley from the firm's Private Equity group advised on the transaction, with assistance from managing associate David Wathen and solicitor Nadia Abedin on corporate matters.
In addition, associate Lewis Sanderson provided advice on banking, associate Laura Daniels advised on employment matters, and legal director Liz Evans and associate Conor Wells supported on real estate requirements.
James Cook said:
"This transaction is a big win for both Kennelpak and PSR – it allows for a renewed focus on strong strategic growth for Kennelpak, and a high-quality established brand joining PSR's family, and we were thrilled to be able to provide expertise for our client on this deal.
With a vast array of matters including employment and real estate needing to be thought about for this deal, we are pleased to have provided a wide reaching level of support to ensure a smooth and complete transaction."
James Woolley, partner at Endless said:
“Pets & Friends has grown exponentially during our period of ownership and, after investing in a high-quality management team led by CEO Claire Bayliss, we have worked with them to reposition and transform the retail business at every level, creating a platform for growth which we are proud of. We extend our best wishes to the team at PSR Trading as they take Pets & Friends into the future.
A big thank you to James Cook, David Ridley and the wider Womble Bond Dickinson team for their support and invaluable knowledge on this transaction. This deal was one which required a wide consideration of numerous matters and areas of expertise, and the team ensured all angles were covered in an effective manner."
Claire Bayliss, chief executive officer at Kennelpak, said:
“Under our management and the investment from Endless, Pets & Friends has undergone a significant transformation at every level, evolving from a Midlands-based retailer to a much-loved multichannel pet specialist brand with national reach.
I am immensely proud of the market-leading brand we have built together, and the exceptional service that our colleagues deliver to customers. Their hard work and dedication have been crucial in making Pets & Friends the success it is today, and I thank them all for being part of our transformation journey."
This article is for general information only and reflects the position at the date of publication. It does not constitute legal advice.
