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Pets at Home

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Pets at Home Group PLC
Company typePublic limited company
IndustryRetail
Founded1991; 33 years ago (1991)
FounderAnthony Preston
HeadquartersHandforth, Cheshire, England, United Kingdom
Area served
United Kingdom
Key people
Ian Burke (Chairman)
Lyssa McGowan
(CEO)
ProductsPet supplies
RevenueIncrease £1,404.2 million (2023)[1]
Increase £149.7 million (2023)[1]
Decrease £100.7 million (2023)[1]
DivisionsVets for Pets
Pets Grooming
Websitewww.petsathome.com
Pets at Home, Westgate Retail Park, Wakefield, West Yorkshire. (2009)
Pets at Home in more recent branding in Pontefract, West Yorkshire.

Pets at Home Group PLC (sometimes shortened to Pets) is a British retailer selling pets (not limited to rabbits, rodents and fish), pet food, toys, bedding and medication.

Founded in 1991, the company operates 453 stores across the UK, as well as an online store. The company also provides in-store services, such as grooming, veterinary care and dog training.

In March 2014, the company was the subject of an initial public offering, and has since been listed on the London Stock Exchange as a constituent of the FTSE 250 Index.[2]

History

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The first store was opened in Chester in 1991, by Anthony Preston.[3]

In December 1999, Pets at Home acquired Petsmart UK,[4] bringing a chain of 140 stores under Pets at Home branding.[5]

Pets at Home was sold to Bridgepoint Capital for £230 million in July 2004.[6]

In November 2007, the 200th store, Barnstaple, opened.[7]

On 27 January 2010, Pets at Home was sold by Bridgepoint Capital to US-based investment firm Kohlberg Kravis Roberts (KKR) for around £955 million.[8]

In March 2014, the company was the subject of an initial public offering on the London Stock Exchange.[9]

In January 2018, KKR sold its remaining 12.3% stake in Pets at Home.[10]

Operations

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Pets at Home operate 453 stores plus 316 grooming salons; Pets at Home also operate 394 veterinary surgeries operated on a joint venture partnership model and additionally 47 group managed veterinary practices.[11] The joint venture businesses are generally small businesses which pay a percentage of turnover as a management fee to the company for back office services. The company runs a graduate training scheme intended to produce future joint venture partners.[12]

The company owns Vets for Pets,[13] a Guernsey-based veterinary business that operates a national network of joint-venture partner veterinary practices focusing on treatment of small animals (domestic pets such as dogs, cats, rabbits etc.).[14] The company enters into joint-venture partnerships[15] with veterinary professionals (usually a veterinary surgeon or veterinary nurse)[16] to open new small animal practices. These practices are supported by two main support offices in Swindon and Manchester, which provide partners and their practices with full administrative support.[17]

Controversies

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The 17 September 2012 episode of BBC consumer affairs television programme Watchdog included a report on animal welfare conditions at Pets at Home.[18] The programme had visited eight stores, as part of an investigation which included Mike Jessop, former president of the Small Animal Veterinary Association. The programme discovered evidence of mistreatment of small animals, dead fish being left to rot and be eaten in tanks, and sick small animals up for sale.[18][19] That month, Pets at Home issued a full response to the claims made in the broadcast.[20] The BBC trust published a clarification on 7 June 2016 that the website included a version of the item made before Pets at Home's points in reply to criticisms were incorporated. In response to the complaint the programme-makers acknowledged that this represented a serious breach of the BBC's editorial standards and replaced the item with a version which reflected Pets at Home's points.[21]

References

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  1. ^ a b c "Annual Results for the year ended 31 March 2023" (PDF). Pets at Home. Retrieved 13 February 2024.
  2. ^ "Poundland and Pets at Home set flotation share prices". TheGuardian.com. 12 March 2014. Retrieved 24 June 2014.
  3. ^ Goodman, Matthew; Kemeny, Lucinda (18 April 2004). "Pets At Home groomed for £200m sale". The Times. London. Retrieved 29 May 2009.[dead link‍]
  4. ^ "Company Briefs". The New York Times. 16 December 1999. Retrieved 29 May 2009.
  5. ^ "Pets at Home Woofs up Growth". Estates Gazette. 23 June 2007. Retrieved 29 May 2009.
  6. ^ "Bridgepoint poised to swoop on Pets at Home". Financial Times. 19 July 2004. Retrieved 9 May 2015.
  7. ^ Finch, Julia (8 November 2007). "Pampered pooches could go public". The Guardian. London. Retrieved 29 May 2009.
  8. ^ "KKR buys Pets at Home for £955m". The Telegraph. 28 January 2010. Retrieved 24 June 2014.
  9. ^ "Poundland and Pets at Home set flotation share prices". TheGuardian.com. 12 March 2014. Retrieved 24 June 2014.
  10. ^ "KKR sells remaining stake in Pets at Home". www.ft.com.
  11. ^ "Quarter 1 Trading Statement Fiscal Year 2021" (PDF). Pets at Home. 31 July 2020. Retrieved 1 September 2020.
  12. ^ "Seven day services: Setting up shop on the high street". Health Service Journal. 1 September 2015. Retrieved 12 October 2015.
  13. ^ Guernsey Registry for Vets4Pets www.greg.gg. 3 February 2013.
  14. ^ Vets4Pets taking a lead in the Veterinary World www.thisisguernsey.com. 3 February 2013.
  15. ^ Arsenault, Jane."Forging Nonprofit Alliances: A Comprehensive Guide to Enhancing Your Mission Through Joint Ventures and Partnerships" Jossey Bass,1998, p.33-49.
  16. ^ Vets4Pets Partner Website Launch www.petgazette.biz. 3 February 2013.
  17. ^ Vets4Pets steps on it www.thisisguernsey.com. 3 February 2013.
  18. ^ a b "Pets at Home on Watchdog". Pet Product Marketing. 20 September 2010. Archived from the original on 20 October 2013. Retrieved 21 September 2012.
  19. ^ "Pets at Home sell Dead fish, Guinea pigs with Ringworm, ill Rabbits". BBC Watchdog. 17 September 2012. Archived from the original on 15 December 2021. Retrieved 20 September 2012.
  20. ^ "Pets at Home: Watchdog exposé is a "serious concern"". Vet Times. 21 September 2012.
  21. ^ "Watchdog: BBC One and website, Thursday 11 and Thursday 18 June 2015". BBC. Retrieved 1 September 2020.

Further reading

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