Jollyes acquires Midlands-based Penparc Pet Centre Group
Jollyes has acquired Midlands-based Penparc Pet Centre Group as part of plans to accelerate growth.
The deal has seen the retailer buy Penparc’s five stores in Cannock, Stafford, Stoke-on-Trent, West Bromwich and Telford.
The purchase is the latest move by Kester Capital-backed Jollyes to expand the business and has been completed with financial support from HSBC.
The acquisition of the family-run retailer will mean Jollyes has a total of 80 stores, although seven new launches are planned across the UK over the coming weeks.
Jollyes chief executive Joe Wykes (pictured right) said: “The dedication of the Penparc team to their pet-owning customers have made them legendary in the towns they trade. We couldn’t be prouder to bring them into the Jollyes team. Whether organically or through acquisition, we remain ambitious as we seek other opportunities to grow.”
The retailer has also announced a 15% increase in turnover to £86 million in the year to 29 May 2022. Looking ahead to the new financial year, Jollyes said it plans to recruit for an additional 100 roles, including 80 in new stores and 20 in its back office.
Wykes added: “We’re proud that this transformation is now leading to 100 additional opportunities to join the Jollyes team in the year ahead as we double-down on our ambitious growth plans.”
