Pet Supplies Plus Explained

Pet Supplies Plus
Type:Subsidiary
Former Name:Pet Supplies "Plus"
Area Served:United States
Key People:Chris Rowland (CEO)
Industry:Retail
Products:Pet food and supplies
Brands:Various
Services:Dog grooming, self serve dog wash, pet adoptions
Revenue:$2 billion
Revenue Year:2021[1]
Parent:Franchise Group (2021-present)[2]
Num Employees:3,000
Num Employees Year:2021
Foundation:, in Redford, Michigan, United States (as Pet Supplies "Plus")
Location City:Livonia, Michigan
Location Country:U.S.
Num Locations:560[3]
Num Locations Year:2021

Pet Supplies Plus (also styled Pet Supplies "Plus") is a privately held pet supply retailing corporation with a major presence in the US.[4] [5] It was founded in 1988 in Redford, Michigan in the United States. As of 2005, it was the third largest specialty pet food retailer in the US.[6] The company began adding franchise locations in the Midwest, expanding into the northeastern and southern states during the late 1990s.[6] As of May 2023, Pet Supplies Plus store locations consisted of over 720 stores in 36 states. Pet Supplies Plus has in-house pet food brands such as Redford Naturals.[7]

History

Pet Supplies Plus was founded in 1988 by Harry Shallop and Jack Berry, in Redford, Michigan.[8]

In December 2018, Pet Supplies Plus was acquired by Sentinel Capital Partners.[9]

In January 2021, the Franchise Group, Inc., announced it was acquiring Pet Supplies Plus,[10] [11] and the deal was closed on March 10, 2021.[12]

On November 2, 2024, Franchise Group announced that they were preparing to file for Chapter 11 bankruptcy after months of losses and turmoil caused by its owner, B. Riley Financial. HPS Investment Parters, a private equity firm, amongst other lenders, will take over the company once the restructuring is completed.[13] On November 3, 2024, Franchise Group and all of its affiliated subsidiaries filed for Chapter 11 bankruptcy protection in Delaware. The company plans to keep Pet Supplies Plus open during the procedure.[14]

External links

Notes and References

  1. Web site: Pet Supplies Plus. Forbes.
  2. Web site: Home . franchisegrp.com.
  3. Web site: Pet Supplies Plus | Own a Pet Supplies Plus Franchise. Pet Supplies Plus Franchise.
  4. Web site: Pet Supplies Plus/USA Inc.. https://web.archive.org/web/20120930233146/http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=10622359. dead. September 30, 2012. Business Week. 2010-05-16. 2010-05-16.
  5. Web site: Industry Overview:Pet Stores. Hoover's. 2010-05-23. Major companies include PetSmart, PETCO Animal Supplies Stores, Pet Supplies Plus, and Petland. .
  6. Web site: With the big dogs; Pet Supplies Plus grows to third-largest pet food specialist. 2005-12-05. 2010-05-16. Crain's Detroit Business (Crain Communications).
  7. Web site: About Us. Pet Supplies Plus. 2015-05-25.
  8. Web site: Pet Supplies Plus Switches Sponsors . 7 April 2020 . 13 December 2018 . Private Equity Professional . McNulty, John.
  9. Web site: Pet Supplies Plus Acquired by Private Equity Firm . December 13, 2018 . Pet Product News . March 10, 2019 . https://web.archive.org/web/20190310123747/http://www.petproductnews.com/News/Pet-Supplies-Plus-Acquired-by-Private-Equity-Firm/ . March 10, 2019 . live.
  10. News: Franchise Group Inc Acquires PSP. Pet Supplies Plus Franchise Opportunity . 26 January 2021. Hotdish .
  11. Web site: Pet Supplies Plus Acquired for $700 Million.
  12. Web site: Kaminsky . Andrew F. . 10 March 2021 . Franchise Group, Inc. Closes on the Acquisition of Pet Supplies Plus . Globe Newswire.
  13. Web site: B. Riley-Backed Franchise Group Prepares to File for Bankruptcy. November 2, 2024. November 3, 2024. Bloomberg Law. en.
  14. Web site: Vitamin Shoppe Owner Franchise Group Filing for Bankruptcy. November 3, 2024. November 3, 2024. PYMNTS. en.