PETS at Home, the retail chain, is being circled by a number of private equity firms while it considers a stock market listing, it was reported today.
The pet supplies business, which has 240 stores and employs more than 4,000 people, confirmed last night that it had appointed JP Morgan Cazenove to look at a potential offering of shares next year. It said that a stock market flotation was one of the options open to it.
However, the Financial Times reported that at least five private equity firms have tabled provisional offers, including leading names KKR and Apax.
Bridgepoint Capital, the private equity group that bought the chain for £230 million in 2004, is said to be looking for £700 million.
The firm considered floating the business in 2007 but abandoned the plans last year when stock markets fell.
Pets at Home chief executive Matt Davies said the appointment of JP Morgan Cazenove signalled the company’s desire to be prepared should the flotation route begin to look attractive.