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Pet Supplies Plus Is Up for Sale

Sentinel Capital Partners is working with investment banks as it looks to sell the retailer.

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The owner of Pet Supplies Plus is seeking to sell the retailer, according to PE Hub, a website covering private equity deals.

Sentinel Capital Partners, which bought Pet Supplies Plus two years ago, is working with investment banks in the process, PE Hub reports, citing “three sources familiar with the matter.”

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PE reports that Pet Supplies Plus is believed to have EBITDA (earnings before interest, taxes, depreciation, and amortization) of $65 million to $75 million. Sources say the sale price could amount to 8 to 10 times that figure.

When Sentinel acquired Pet Supplies Plus in December 2018, financial terms of the deal were not disclosed. Sentinel purchased the company from Irving Place Capital.

Founded in 1988 and headquartered in Livonia, MI, PSP is a leading franchisor and operator of pet-specialty stores.

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Crain’s Detroit Business reported in December 2019 that Pet Supplies Plus had annual revenue of more than $1 billion.

Read more at PE Hub

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