Pets at Home’s largest investor Kohlberg Kravis Roberts is to halve its stake in the business by selling 21.6% of the retailer’s shares.
- Kohlberg Kravis Roberts holds 46.8% of Pets at Home at present
- It plans to sell 21.6% of the business
- Pets at Home full-year profits rose 40% to £87m
Private equity group Kohlberg Kravis Roberts holds 46.8% of Pets at Home at present and plans to sell almost half of its stake.
Pets at Home will not receive any proceeds from the sale.
The stake will be offered as an accelerated bookbuild launched by Bank of America Merrill Lynch.
Pets at Home last week reported pre-tax profits rose 40% to £87m in the year ending March 26.
The retailer also reported like-for-like revenue rose 4.2%, which was driven by advanced nutrition, health and hygiene products, as well as its services, VIP Club and omnichannel offering.
The retailer floated on the London Stock Exchange in March 2014.