// JPMorgan becomes a top shareholder in Pets at Home
// The move makes the firm the third largest shareholder in the Cheshire-headquartered retailer
One of the world’s largest investment giants has become a top shareholder in Pets at Home after a multi-million pound deal.
JPMorgan Asset Management, which is headquartered in the US, has increased its stake in the listed retailer to more than 5 per cent.
The move makes the firm the third largest shareholder in the Cheshire-headquartered company.
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Schroder Investment Management remains the biggest institutional investor, with a stake of almost 10 per cent while Jupiter Asset Management is just behind with a holding of 9.85 per cent.
The investment from JPMorgan Asset Management moves it above the likes of other shareholders Nordea Bank SA, BlackRock and Norges Bank Investment Management.
The news come after Pets at Home announced that its profits surged by more than 80 per cent during the first half of its financial year as its revenue jumped by over £100 million.
The retailer reported group statutory pre-tax profits of £70.6 million for the six months to October 7, up from the £38.9 million it posted during the same period last year.
The company added that its revenue also increased from £574.4 million to £677.6 million.
Pritchard joined in 2011 as commercial director and worked his way up to his current role in March 2018.
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