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Roark Capital Group's Pet Valu Acquires Bosley's Pet Food Plus
Pet Food Retailer is Roark's 18th Franchise Investment
ATLANTA, GA, April 24, 2010 /Franchise PR News/ -- Atlanta-based Roark Capital Group announced today that its portfolio company, Pet Valu Canada Inc., has acquired Bosley's Pet Food Plus Inc., a small format specialty retailer of pet food and supplies. The transaction is Pet Valu's first add-on acquisition since the company was taken private by Roark in August 2009.
With 23 stores in and around Vancouver, Bosley's is the leading independent pet retail chain in British Columbia. The acquisition gives Pet Valu, primarily based in Ontario and Manitoba, a platform for growth in Western Canada. Like Pet Valu, Bosley's has been in business for over 30 years and specializes in holistic and specialty brands with a focus on pet health and customer satisfaction. Bosley's will continue operating under the Bosley's trade name after the acquisition.
Founded in 1976 and headquartered in Markham, Ontario, Pet Valu is Canada's largest small format specialty retailer and wholesale distributor of pet food and supplies, with 296 corporate and franchised stores in Ontario and Manitoba, and 61 U.S. stores located in Pennsylvania, New Jersey, Maryland and Delaware.
Tom McNeely, CEO of Pet Valu, stated, "Bosley's is a well-known, respected brand in Western Canada that shares Pet Valu's commitment to providing its customers with the highest quality pet products and unmatched customer service. We are excited to help carry on its legacy and further grow the brand."
Bosley's CEO Ken Almond, stated "On behalf of Bosley's, we are very excited about our association with Pet Valu and believe it is the right custodian of the Bosley's legacy. Pet Valu's commitment to pet health and wellness and focus on growth in Western Canada ensures that this transaction will be good for our customers, employees and their pets."
Ezra Field, Managing Director of Roark Capital, added that "Bosley's is a strategic acquisition for Pet Valu, demonstrating its commitment to the specialty channel and to the highest quality holistic and organic products available, while helping it build its presence in Western Canada. It also illustrates Roark's strategy of supporting portfolio companies' growth plans through acquisition and reinvestment."
Bosley's represents Roark's 16th investment in a business owned by an entrepreneur or family, its 18th franchise brand investment, and sixth acquisition in the last six months.
About Bosley's
Bosley's Pet Food Plus Inc. is a small format specialty retailer and wholesaler of pet food and supplies. Bosley' s products include dog, cat and other pet food as well as non-food products such as collars, leashes, pet cages and toys. Bosley's specializes in holistic and specialty brands with a focus on pet health and customer satisfaction. For more information, please visit www.bosleys.com.
About Pet Valu
Founded in 1976 and headquartered in Markham, Ontario, Pet Valu is Canada's leading small format specialty retailer and wholesale distributor of pet food and pet-related supplies, with $240 million in system sales (as of Roark's acquisition in August 2009) across 296 corporate and franchised stores in Ontario and Manitoba, and 61 U.S. stores located in Pennsylvania, New Jersey, Maryland and Delaware. Pet Valu's products include dog, cat and other pet foods as well as non-food products such as collars, leashes, pet cages and toys. For more information, please visit www.petvalu.com.
About Roark Capital Group
Roark Capital Group is an Atlanta-based private equity firm that specializes in business and consumer service companies with attractive growth prospects and revenues ranging from $20 million to $1.0 billion. Roark focuses on middle-market investment opportunities through family-owned business transfers, management/corporate buyouts, recapitalizations, going-private transactions, and corporate divestitures. Specific areas of focus include franchise, food and restaurants, marketing services, environmental services and business services. Roark has acquired 18 franchise/multi-unit brands that collectively have over 45,000 points of distribution, 3,000 franchisees, and more than $4 billion in system-wide revenues across 50 states and 36 countries. The firm has more than $1.5 billion of equity capital under management. For more information, please visit www.roarkcapital.com.
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