Jollyes, a leading UK pet retailer is buying Coventry's largest independent pet store Bannerbrook Pets for an undisclosed sum.
Established by entrepreneurs Steve Teasdale and Andy Gattner in 2004, the Bannerbrook Pets store in Coventry has built up a loyal customer base.
The agreement to purchase Bannerbrook Pets is the latest move by Kester Capital-backed Jollyes to accelerate its growth plans. It follows the acquisition in October of The Pet Store and its three locations in Yorkshire. Bannerbrook Pets will complement Jollyes’ existing Midlands outlets in Willenhall, Cannock and Kettering.
In its most recent quarter, Jollyes delivered 21 per cent like-for-like growth compared to the same period in 2019. It has achieved five-star Trust Pilot ratings for 23 stores and an average 4.7 score across the Jollyes estate, underlining its commitment to the highest standards of customer service.
Following this investment, Jollyes expects to open more new stores through both the targeted strategic acquisition of smaller pet retailers and taking on new leases in carefully thought-through locations across Great Britain and Northern Ireland.
Richard Cotter, Jollyes’ executive chairman, said: “Steve and Andy have built up a fantastic business and one that has developed a dedicated customer base in the area. While we’ve moved quickly, the acquisition is the culmination of weeks of detailed negotiations to make sure that Steve and Andy were comfortable with the deal. We’re excited about this latest addition to our family which marks another big step in our growth plans and brings Jollyes to a new Midlands location.”
Steve Teasdale and Andy Gattner, founders of Bannerbrook Pets, said: “All of us at Bannerbrook Pets are looking forward to wearing the iconic Jollyes red fleece. Over the course of the last few months, we’ve got to know the Jollyes team well and they’ve been fantastic to deal with during this whole process. It was very important to us to find a buyer that shared the same culture and values as we do and we’re looking forward to working with them as they take the business on to the next level.”