NEW YORK – Pet Supplies Plus (PSP), the third-largest pet specialty retail chain in the US, has been acquired by Sentinel Capital Partners, a private equity firm based out of New York. Sentinel has acquired 13 franchises since it was founded in 1995.
"The pet industry is very attractive due to its stability, growth, and passionate consumer base. PSP has a strong position in the pet retail segment and a very loyal customer base,” said Marc Buan, a principal of Sentinel. “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."
Pet Supplies Plus began in 1988 in Livonia, Michigan and has grown to 448 stores across 33 states, of which half of the stores are company-owned and the other half are franchise locations. The company also operates a distribution network.
“We look forward to partnering with Sentinel, a firm with deep franchising expertise, to help us drive revenue growth and geographic expansion,” added Chris Rowland, CEO of Pet Supplies Plus.
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