KKR acquires Pets at Home as SBO proves more lucrative than IPO

Talk of a potential listing began in late 2009 as a spate of buyout houses began to eye the stock market rally as an opportunity to make lucrative exits of strong performing portfolio companies. By the end of the year, however, this talk had dissipated to a large extent as the potential for big pay days wilted.

Cheshire-based Pets at Home, founded in 1991, is the number one specialist pet food retailer in the UK, operating 250 stores and employing 4,200 staff. In the year to March 2009 the company achieved turnover of £404.2m and EBITDA of £70m.

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• Topics
• Buyouts
• UK / Ireland
• Exits
• Secondary buyout
• Flotation