KKR sells 12% stake in Pets At Home for £119m

The sale values the shares at approximately 198 pence apiece. When the market closed on Monday 9 October, shares were trading at 215.9 pence but opened at 197 pence on the morning of Tuesday 10 October.

The GP retained 62,013,086 shares after the sale, representing a 12.4% stake in the company.

KKR initially took Pets At Home public in 2014 in an IPO that valued the company at £1.22bn. The GP and other selling shareholders reaped £210m from the flotation.

In June 2015, it sold 108 million shares at 280.6 pence per share, generating proceeds of £288m.

Company
Founded in 1991 and headquartered in Cheshire, Pets At Home operates 434 pet stores across the UK, as well as 438 veterinary surgeries and 290 grooming salons for animals.

The company's revenues increased by 7.2% to £834.2m for the financial year ending in March 2017 compared to the previous year. EBITDA increased by 4.7% to £130.5m over the same period.

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• Topics
• Exits
• UK / Ireland
• Consumer
• KKR
• United Kingdom
• Sell-down