Pet retailer eyes national growth under new ownership and investment
A pet retailer is looking to grow its business and increase its workforce following a management buyout (MBO).
PetPlace, headquartered in Kinmel Bay, Wales, also has stores in Abergele, Ruthin, Mold, Llangefni and Chirk.
New owners, Sion Pritchard and Paul Penketh, directors of Snowdon Holdings, are now majority shareholders of PetPlace having completed an MBO, which was supported by founder Gwyn Lewis.
With turnover exceeding £10m, plans to expand their 100-strong team with more sales and administrative staff and the potential to open further stores in the coming years, means the business is perfectly placed to grow further post-pandemic.
Sion Pritchard, said: “The last two years have raised challenges but also given us the opportunity to advance the business in-store and behind the scenes.
“Everything is moving in the right direction, but we are looking at the future, which will eventually include further stores and more staff.”
Among the biggest developments during Covid was the opening of a new dispatch warehouse to manage the growing number of online orders, and a popular loyalty app.
Gwyn Lewis, founder, PetPlace, commented: “I am excited to take a step aside and embrace this new era. Paul and Sion have so many wonderful ideas and will lead PetPlace to even greater heights, I’m sure.”
Paul Penketh, added: “Both Sion and I are proud to have been part of the PetPlace family for a long time, so to now be taking it forward and building for the future is a huge privilege for us.
“There are many exciting developments on the horizon as we continue to evolve and have a positive impact on the local economy and the specialist pet retail sector – watch this space.”
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