Pet Supplies Plus Gets Acquired
Founded in 1988 and headquartered in Livonia, Mich., PSP is a franchisor and operator of pet specialty stores that provide a customer-centric shopping experience in smaller stores that have a neighborhood feel. PSP blends the advantages of national scale with those of a friendly, local neighborhood pet store. Stores have a streamlined design, which makes them easy to navigate, and a wide assortment of natural foods, hard goods and pet services. Serving 33 states, PSP’s system comprises 448 stores, split evenly between franchised and company-owned locations. PSP also operates a distribution network that provides scale, profitability and competitive operational advantages to its franchisees.
“PSP is the No. 1 pet franchise system in the U.S., with an expanding footprint and a large white-space opportunity,” said Marc Buan, a Sentinel principal. “The pet industry is very attractive due to its stability, growth and passionate consumer base. PSP has a strong position in the pet retail segment and a very loyal customer base. Led by a highly committed and talented management team, PSP has delivered consistent performance and steady growth.”
“PSP combines the convenience, expertise and high-touch experience of a local neighborhood pet store with the curated selection and value of a national player,” said Chris Rowland, CEO of Pet Supplies Plus. “We look forward to partnering with Sentinel, a firm with deep franchising expertise, to help us drive revenue growth and geographic expansion.”
Sentinel has acquired 13 franchise investments over the course of its history, including Border Foods, a franchisee in the Taco Bell system; Captain D’s, a franchisor and operator of more than 500 Captain D's seafood restaurants; Checkers, a franchisor and operator of dual drive-thru quick service restaurants; Cottman Transmission Systems, a franchisor of automotive transmission centers; Falcon Holdings, the largest franchisee of Church's Chicken restaurants; Fazoli’s, a regional franchisor and operator of Italian fast-casual restaurants; Interim Healthcare, the nation's largest provider of home healthcare and supplemental healthcare staffing services; Huddle House, a franchisor of family dining restaurants; Massage Envy, the nation’s largest franchisor of therapeutic massage services; Newk’s Eatery, a franchisor and operator of fast-casual restaurants in the Southeast; Southern California Pizza Company, the exclusive Pizza Hut franchisee in the greater Los Angeles market; TGI Fridays, a global franchisor and operator of iconic American-style bar and grill restaurants; and Tony Roma’s, a franchisor of casual dining restaurants.