13 July 2016

BUSINESS - Pet Value and Pet Supermarket Merge

Pet Valu and Pet Supermarket announced that they have merged to create the third largest pet specialty retailer and the largest small format, neighborhood, pet specialty retailer in North America.

The combined business is named Pet Retail Brands.  With over 930 stores, it will generate approximately $1 billion in system-wide retail sales across the US and Canada.

Pet Retail Brands will have an extensive retail footprint with stores from the East Coast to the West Coast and from Miami to Vancouver and is well positioned for continued growth. Terms of the agreement were not disclosed.

Pet Valu was taken private by an affiliate of Roark Capital in August 2009. Pet Supermarket was acquired by an affiliate of Roark Capital in April of 2015.

Pet Retail Brands will remain headquartered in Markham, Ontario and Pet Supermarket operations will continue to be based in Sunrise, Florida.

Ezra Field, Managing Director of Roark Capital, said, “The combination of these two highly complementary businesses, both long established brands with strong cultures and deep commitments to local communities and helping pets, will create the leading community focused pet specialty retailer in North America.”

As part of the transaction, Thomas McNeely will become President and Chief Executive Officer of Pet Retail Brands. Mr. McNeely has been Chief Executive Officer of Pet Valu since August 2009.

“Bringing together two of the fastest growing pet specialty retailers creates a powerful platform to share resources and best practices to support both Pet Supermarket, Pet Valu and their loyal customers. I look forward to working with all of the employees and suppliers of Pet Supermarket as well as Pet Valu franchisees to grow these brands, which have been providing pets with superior products and service for over 40 years,” Mr. McNeely said.

Concurrent with the closing of the transaction, Diane Holtz announced her retirement from her role as Pet Supermarket’s President and Chief Executive Officer.

Ms. Holtz joined Pet Supermarket in 1992 and has served as President and COO since 2002. She was President and CEO and a member of the Board since 2015.

“My 23-year journey with Pet Supermarket is filled with wonderful memories of our passionate team that ranks among the best and brightest in pet retail,” said Diane Holtz. “I retire knowing this transaction positions Pet Supermarket for continued success on behalf of all its employees and partners. I am grateful for the support and guidance of the Roark Capital team and look forward to seeing Pet Supermarket continue to grow and delight pets and pet parents alike.”

No comments:

Post a Comment