Nationwide pet store retailer Jollyes has bolstered ambitions to reach sales of £100m with the acquisition of Midlands-based Penparc Pet Centres.
The deal adds a further five sites to the group’s estate, which now totals 80 stores.
It is planning to open another eight stores in the coming weeks, creating 100 jobs in the process, as it aims to grow turnover to £100m by the end of its 2023 financial year.
Jollyes reported a 15% growth in sales to £86m in the year ended 29 May 2022 thanks to a mix of new store openings and further acquisitions, including The Pet Store in Yorkshire and Bannerbrook Pets in Coventry.
A revamp of its private-label Lifstyle range also contributed to the uplift in revenues.
Jollyes CEO Joe Wykes said: “Whether organically or through acquisition, we remain ambitious as we seek other opportunities to grow.”
The group started trading from a single store in Enfield in 1971, expanding rapidly across the UK following an MBO backed by PE firm Kester Capital in 2018
Executive chairman Richard Cotter added: “Our performance [in FY2022] is simply a consequence of us transforming our business to empower our people to provide products that meet the needs of Britain’s pet owners.
“We’re proud that this transformation is now leading to 100 additional opportunities to join the Jollyes team in the year ahead as we double-down on our ambitious growth plans.”
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