The private equity owner of pet specialist retailer Jollyes is understood to be considering a sale of the business for more than £100m.
City sources told The Times that the retailer’s private equity owner, Kester Capital, is working with financial advisors at Houlihan Lokey on “strategic options” for the business.
Jollyes, which sells pet food, dog leads and toys, has 98 stores across the UK and has recently expanded into providing grooming and veterinary services in its branches.
Last week, the business revealed it haddelivered its strongest ever first half trading performance in the six months to 27 November.
Like-for-like sales for the retailer surged 19% over the period, while total sales rocketed 31% to £70m.
Jollyes continued with its expansion plans, opened eight new stores in the six months in Swindon, Belfast, Merthyr Tydfil, Harrogate, Widnes, Swadlincote, Reading and Hull.
Jollyes declined to comment when approached by Retail Gazette. The retailer said in a statement: “We don’t comment on market speculation.
“Jollyes is a successful and rapidly expanding UK pet superstore ambitious for further growth.
“In the past year it has broken through significant milestones, turning over more than £100m for the first time, employing over 1,000 colleagues and is on course to have more than 100 stores by early 2024.”
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