Sussex-based retailer Pets Corner has acquired competitor PamPurred Pets for £6m in a move to build the UK‘s second biggest pet chain after Pets At Home.
Originally founded in 1968 by husband and wife Mark and Sandra Richmond, the pet retailer no has 110 stores across the UK. Its purchase of PamPurred Pets will add a further 51 sites spanning across England and Wales to its portfolio.
While Pets Corner will run PamPurred Pets as a separate arm of its business, it plans to rebrand the newly acquired stores over the next few years.
Cavendish Corporate Finance, with the assistance of Natwest advised on the £8m debt
Pets Corner managing director Dean Richmond, said: “PamPurred Pets‘ stores are ideally positioned to complement and enhance our existing portfolio and reach our core customer base.
“The addition of PamPurred Pets enables us to bring the Pets Corner Difference to new customers whom we hope will enjoy the benefits of our exceptional expert advice and high quality products in a place that is convenient for them.
The group is expected to report a combined turnover of around £45m this year.