Private equity firm Sentinel Capital Partners has purchased US-based pet speciality retail chain Pet Supplies Plus (PSP) for an undisclosed amount.
Headquartered in Livonia, Michigan, Pet Supplies Plus currently operates 448 franchised and corporate stores across 33 states in the US.
The retailer also operates a distribution network to support its franchisees. It offers a wide assortment of natural foods, hard goods, and pet services.
Pet Supplies Plus CEO Chris Rowland noted that the company will now work in collaboration with Sentinel to support its revenue growth and geographic expansion.
Sentinel principal Marc Buan said: “PSP is the #1 pet franchise system in the US with an expanding footprint and a large white-space opportunity.
“PSP has a strong position in the pet retail segment and a very loyal customer base. Led by a highly committed and talented management team, PSP has delivered consistent performance and steady growth. We are excited to partner with PSP during the next phase of its growth.”
Earlier this year, Pet Supplies Plus expanded its presence by opening five new stores in four states including Florida, Iowa, Texas and Illinois.
The five store locations include Winter Park, Florida, Davenport, Iowa, Katy East and Bailey Boswell, Texas, and Mount Vernon, Illinois.
Based in the US, Sentinel buys and establishes franchise businesses. It acquired 13 franchise investments such as Border Foods, Captain D’s, Checkers, Cottman Transmission Systems, Falcon Holdings, Fazoli’s, Interim Healthcare, Huddle House, Massage Envy, and TGI Fridays among others.