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Kester Capital considering £100m sale of pet food retailer Jollyes

Private equity firm Kester Capital is considering a sale of its portfolio company, Jollyes, one of Britain’s largest privately owned pet food retailers, with an asking price of more than £100m, according to a report by the Financial Times.

The report cites unnamed sources as confirming that Kester is working with corporate finance advisers at Houlihan Lokey on “strategic options” for Jollyes, which sells dog leads, toys and pet food from over 70 retail outlets across the UK. The retailer also recently expanded into providing in-store grooming and veterinary services.

The potential sale would be the latest in a series of deals for British pet-related businesses, following Scandinavian buyout giant EQT’s agreement in June to acquire the FTSE 250-listed pet medicines maker Dechra Pharmaceuticals for £4.5bn, and US private equity firm General Atlantic’s £280m September investment in home delivery dog food supplier Butternut Box.

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