A majority stake purchase by TDR Capital will be complete by the end of April 2024, enabling leading UK pet supplies chain Jollyes to expedite its store expansion plan. 

The retailer is planning to drive down prices by opening new stores in a range of locations, increasing market competition.  

With plans to inaugurate 12 new stores in 2024 and early 2025, Jollyes has secured agreements for locations in Nuneaton, Chester, Northampton and East Kilbride. 

Jollyes has demonstrated recent significant growth, with a 50% increase in store count over three years, including 33 new stores in 26 months.  

The company recently opened its 99th store in Belfast Connswater and is preparing to launch its 100th and 101st stores in Newport, Gwent and Rotherham, South Yorkshire, in March 2024.

The investment will also expedite the rollout of grooming and veterinary services, aiming to reduce the overall cost of pet care.  

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Jollyes is committed to being a top retail employer, having introduced a comprehensive benefits package for its 1,200 employees. 

Its new phase of growth will not only benefit customers and staff but also create opportunities for suppliers.  

Jollyes has already facilitated the expansion of Durham Animal Feeds, a small raw dog food supplier, by introducing raw frozen “shop-in-shops” across its stores. 

Andy Bond, executive chairman of Pepco Group and former CEO of Asda, will become the non-executive chairman following the purchase.

Jollyes chief executive officer Joe Wykes said: “This new investment will help us build a much bigger stage, accelerating our growth plans and giving us the resources we need to bring more value to more places. 

“We look forward to partnering with TDR on the exciting next phase of our growth in the UK. 

“I’d also like to thank our chairman Richard Cotter for his stewardship of this business over the last six years and formally welcome Andy Bond to our board. 

“Andy’s retail credentials and know-how in the value sector make him an ideal chair for Jollyes, customers and colleagues.  I’m looking forward to his counsel and guidance as we continue to grow at pace.”