Franchise Group Buys Pet Supplies Plus for $700M
Franchise Group Inc. (Nasdaq: FRG) is acquiring Pet Supplies Plus, a pet supplies retail chain, from
Sentinel Capital Partners for $700 million. The target operates more than 500 locations, with almost 60 percent of them franchised.
“PSP adds another franchise concept with strong unit economics, diversification into an economically resilient and secularly growing pet industry, and a brand that has and will continue to experience robust unit expansion from its franchise system,” says Franchise Group CEO
Brian Kahn. Franchise Group also owns
Liberty Tax Service, Buddy’s Home Furnishings, American Freight and
the Vitamin Shoppe.