News

Expansion plans for Pets at Home

Pets at Home chief executive Matt Davies spoke to PPM about how the company will continue to open around 20 new stores a year following its sale for £955m to a private equity group.

What does the sale actually mean to the future of the company?

This is fantastic news for Pets at Home. It is a resounding endorsement of our success to date and a validation of our colleagues’ commitment and enthusiasm towards pets and pet owners. We are continuing to expand, taking the Pets at Home experience to more and more people across the UK.

Will some of the sale money be used for future investment?

We are constantly investing in the business to support our long-term growth plans.

Does that mean investing in new stores?

We have a strong store-opening programme, with around 20 new stores created every year.

It has been quoted that 400 Pets at Home stores throughout the UK is a distinct possibility? Is that a figure the company has in mind?

I definitely think there is scope for more than 400 Pets at Home stores in the UK. We have a good spread across the country, but there is still a lot of room for growth.

Why has the company been able to grow so quickly, especially in the past couple of years of deep recession?

The British people love their pets and don’t see them as a discretionary cost. Our average basket size is also relatively small, so a trip to Pets at Home doesn’t have to be expensive. Customers also value the knowledge and experience of our colleagues. Everyone at Pets at Home is passionate about pets and we love to share that passion with our customers.

Why was Pets at Home such an attractive company to buy?

I think KKR recognised the unique position of Pets at Home. It sees the significant growth potential and the quality of our team. I am looking forward to working with KKR during this new chapter in our history.

What’s the secret of Pets at Home?

We try to excite our customers with new and innovative products, outstanding customer service and a unique in-store environment. We are constantly looking for ways to improve our offering and provide our customers with what they want at prices they can afford.