The personal fairness proprietor of pet specialist retailer Jollyes is known to be contemplating a sale of the business for greater than £100m.
City sources advised The Times that the retailer’s personal fairness proprietor, Kester Capital, is working with monetary advisors at Houlihan Lokey on “strategic options†for the business.
Jollyes, which sells pet meals, canine leads and toys, has 98 shops throughout the UK and has just lately expanded into offering grooming and veterinary providers in its branches.
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Last week, the business revealed it had delivered its strongest ever first half buying and selling efficiency within the six months to 27 November.
Like-for-like gross sales for the retailer surged 19% over the interval, whereas complete gross sales rocketed 31% to £70m.
Jollyes continued with its enlargement plans, opened eight new shops within the six months in Swindon, Belfast, Merthyr Tydfil, Harrogate, Widnes, Swadlincote, Reading and Hull.
Jollyes declined to remark when approached by Retail Gazette. The retailer stated in an announcement: “We don’t touch upon market hypothesis.
“Jollyes is a profitable and quickly increasing UK pet superstore formidable for additional progress.
“In the previous 12 months it has damaged by way of important milestones, turning over greater than £100m for the primary time, using over 1,000 colleagues and is heading in the right direction to have greater than 100 shops by early 2024.”
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