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Pet Supplies Plus

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Pet Supplies Plus
FormerlyPet Supplies "Plus"
Company typeSubsidiary
IndustryRetail
FoundedJune 1988; 37 years ago (1988-06), in Redford, Michigan, United States (as Pet Supplies "Plus")
Founder
  • Jack Berry
  • Harry Shallop
Headquarters
Livonia, Michigan
,
U.S.
Number of locations
560[1] (2021)
Area served
United States
Key people
Chris Rowland (CEO)
ProductsPet food and supplies
BrandsVarious
ServicesDog grooming, self serve dog wash, pet adoptions
RevenueIncrease$2 billion (2021[2])
Number of employees
3,000 (2021)
ParentFranchise Group (2021-present)[3]
Websitewww.petsuppliesplus.com

Pet Supplies Plus (also styled Pet Supplies "Plus") is a privately held pet supply retailing corporation with a major presence in the United States.[4][5] Founded in 1988 in Redford, Michigan, U.S., it has in-house pet foods such as Redford Naturals.[6]

As of 2005, it was the third largest specialty pet food retailer in the US.[7] The firm began adding franchise locations in the Midwest, expanding into the northeastern and southern states during the late 1990s.[7] As of May 2023, Pet Supplies Plus store locations consisted of over 720 stores in 36 states.

History

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Pet Supplies Plus was founded in 1988 by Harry Shallop and Jack Berry, in Redford, Michigan.[8] In 2018, the company was acquired by Sentinel Capital Partners.[9]

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

On November 2, 2024, FGI 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 Partners, a private equity firm, amongst other lenders, will take over the company once the restructuring is completed.[13]

On November 3, 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]

References

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  1. ^ "Pet Supplies Plus | Own a Pet Supplies Plus Franchise". Pet Supplies Plus Franchise.
  2. ^ "Pet Supplies Plus". Forbes.
  3. ^ "Home". franchisegrp.com.
  4. ^ "Pet Supplies Plus/USA Inc". Business Week. 2010-05-16. Archived from the original on September 30, 2012. Retrieved 2010-05-16.
  5. ^ "Industry Overview:Pet Stores". Hoover's. Retrieved 2010-05-23. Major companies include PetSmart, PETCO Animal Supplies Stores, Pet Supplies Plus, and Petland.
  6. ^ "About Us". Pet Supplies Plus. Retrieved 2015-05-25.
  7. ^ a b "With the big dogs; Pet Supplies Plus grows to third-largest pet food specialist". Crain's Detroit Business (Crain Communications). 2005-12-05. Retrieved 2010-05-16.
  8. ^ McNulty, John (13 December 2018). "Pet Supplies Plus Switches Sponsors". Private Equity Professional. Retrieved 7 April 2020.
  9. ^ "Pet Supplies Plus Acquired by Private Equity Firm". Pet Product News. December 13, 2018. Archived from the original on March 10, 2019. Retrieved March 10, 2019.
  10. ^ Hotdish (26 January 2021). "Franchise Group Inc Acquires PSP". Pet Supplies Plus Franchise Opportunity.
  11. ^ Pet Product News Staff (2021-01-25). "Pet Supplies Plus Acquired for $700 Million". Pet Product News. Archived from the original on 2021-01-26.
  12. ^ Kaminsky, Andrew F. (10 March 2021). "Franchise Group, Inc. Closes on the Acquisition of Pet Supplies Plus". Globe Newswire.
  13. ^ "B. Riley-Backed Franchise Group Prepares to File for Bankruptcy". Bloomberg Law. November 2, 2024. Retrieved November 3, 2024.
  14. ^ "Vitamin Shoppe Owner Franchise Group Filing for Bankruptcy". PYMNTS. November 3, 2024. Retrieved November 3, 2024.
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