NEW YORK – Pet Supplies Plus, the third-largest pet specialty chain in the U.S., has been acquired by private equity firm Sentinel Capital Partners.
Financial terms of the deal were not disclosed.
Founded in 1988 and headquartered in Livonia, MI, PSP is a leading franchisor and operator of pet-specialty stores.
Serving 33 states, PSP’s system includes 448 stores, split evenly between franchised and company-owned locations. The company is billed as the largest “independent” pet-specialty operator in the country.
“PSP is the #1 pet franchise system in the U.S. with an expanding footprint and a large white-space opportunity,” said Marc Buan, a Sentinel principal. “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. 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.”
Chris Rowland, CEO of Pet Supplies Plus, said, “PSP combines the convenience, expertise, and high-touch experience of a local neighborhood pet store with the curated selection and value of a national player. We look forward to partnering with Sentinel, a firm with deep franchising expertise, to help us drive revenue growth and geographic expansion.”
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Sentinel has broad experience investing in franchise businesses. Sentinel has acquired 13 franchise investments in its history, including:
- Border Foods, a franchisee in the Taco Bell system.
- Captain D’s, a franchisor and operator of more than 500 Captain D’s seafood restaurants.
- Checkers, a franchisor and operator of dual drive-thru quick service restaurants.
- Cottman Transmission Systems, a franchisor of automotive transmission centers.
- Falcon Holdings, the largest franchisee of Church’s Chicken restaurants.
- Fazoli’s, a regional franchisor and operator of Italian fast-casual restaurants.
- Interim Healthcare, the nation’s largest provider of home healthcare and supplemental healthcare staffing services Huddle House, a franchisor of family dining restaurants.
- Massage Envy, the nation’s largest franchisor of therapeutic massage services.
- Newk’s Eatery, a franchisor and operator of fast-casual restaurants in the Southeast.
- Southern California Pizza Company, the exclusive Pizza Hut franchisee in the greater Los Angeles market.
- TGI Fridays, a global franchisor and operator of iconic American-style bar and grill restaurants.
- Tony Roma’s, a franchisor of casual dining restaurants.
