Banner

Pets At Home for £1billion
Written by MCM News Desk    Thursday, 28 January 2010 10:27    PDF Print E-mail
Pets At Home for £1billion Pets At Home has been sold for £1billion - with bosses and staff landing a £53million windfall. The high street chain, with more than 250 shops,is being bought by private equity firm KKR which also owns Boots and Toys R Us. The £955m deal, minus about £450m of debt, will generate a massive profit for Bridgepoint, which snapped up the chain for £230m in 2004.Management, who own a 10% stake, will share a £50m payout which is thought to include about £15m for top boss Matt Davies.
News Sponsored by

the fortune he got when he sold to Bridgepoint. And the chain's 4,000 staff will share £3m, split according to length of service. The announcement, following Kraft's proposed £12bn Cadbury takeover, indicates boom times are returning to the City. Less than two years after the credit crunch erupted, big firms are poised for a shopping spree.

While families struggle to make ends meet, businesses are using record low interest rates to borrow to fund a new wave of takeovers. The Pets At Home sale, being financed by a group of international banks, has prompted speculation that several wellknown firms are about to change hands.

Retailers New Look and Matalan, and Hilton hotels could now be sold rather than floated on the stock market, while Bovis Homes, Severn Trent Water and Sainsbury's are possible takeover targets

 

 
Video News Round up
CHANNEL NEWS
StrongMail, a leading provider of online marketing solutions for email and social media, today annou...
Three out of four paid clicks on sponsored links happen on Google. This is according to a new report...
  Christmas is fast approaching and catalogues are landing on mail order customers’ doorsteps wi...
Fresh Media Group announces Group-wide restructuring and rebrand London-based media services group r...
MILLIONS of letters and parcels could be delayed after postal workers decided to strike for the seco...
GIVe, the womenswear fashion label being launched by retail entrepreneur George Davies, has selected...
Latest News
Swedish retailer Hennes & Mauritz (H&M) has reported a 21% rise in profits for the three mon...
Shop Direct has confirmed that it plans to close three call centres with the loss of 1,500 jobs.The ...
 Waitrose is the UK’s favourite supermarket while bargain superstores Aldi and Lidl came joint th...
 Struggling retailer JJB Sports has said its chairman is to step down on 31 January because of ill ...
Pets At Home has been sold for £1billion - with bosses and staff landing a £53million windfall. Th...
 Former Wal-Mart director Dalton Philips, will replace Marc Bolland, the departing chief executive ...
 

Comments (0)

Subscribe to this comment's feed

Write comment

smaller | bigger
security image
Write the displayed characters

busy
Last Updated ( Thursday, 28 January 2010 10:40 )
 

MCM News Desk

  • 0
  • 1
  • 2
prev
next

H&M sees profit jump 21% after expansion

News image

Swedish retailer Hennes & Mauritz (H&M) has reported a 21% rise in profits for the three months to 30 November after it opened more stores than expected. Fourth-quarter profit rose to 6.2bn k...

Latest | Thursday, 28 January 2010

Read more

Shop Direct plans 1,500 job cuts

News image

Shop Direct has confirmed that it plans to close three call centres with the loss of 1,500 jobs.The home shopping group said the three affected sites were in Sunderland, Burnley, and Newtow...

Latest | Thursday, 28 January 2010

Read more

Waitrose is top of the shops

News image

 Waitrose is the UK’s favourite supermarket while bargain superstores Aldi and Lidl came joint third in a survey from consumer champion Which? *. The ‘big four’ supermarkets – Sainsbury’s, Tesco, Asda and M...

Latest | Thursday, 28 January 2010

Read more

Popular news

MCM Tags



Interviews Ecommerce Channel News Latest News The Catalyst Roundtable The Panel Catalogues Lists & Data Retail Fulfilment Digital Marketing Front Page