PRINT THIS PAGE Bridgepoint to buy Pets at Home for £230m19/07/2004. Source: AltAssets. 
 Mid-market private equity firm Bridgepoint is to acquire Pets at Home, the UK's largest pet shop chain, for £230m.
Pets at Home was founded by Anthony Preston in 1991. In the year to end-March 2004, the firm generated sales of £218m and profits of £24m.
The company is currently controlled by Preston and his family, who have a 61.8 per cent stake. 3i, Preston's initial backer, which owns 23.6 per cent and mezzanine fund provider ICG, are both selling their stakes to Bridgepoint. Preston is understood to be reducing his share to well under 50 per cent, according to the Financial Times.
The business was said to have attracted interest from as many as thirty private equity firms.
Copyright © 2004 AltAssets
|
