Pets at Home investor KKR has sold it’s remaining stake in the business in the wake of the retailer delivering a rise in sales.
The US private equity firm KKR sold its remaining 12.3% stake in the specialist retailer for £108m, three months after it sold £119m worth of the company’s stock in October.
KKR’s remaining stake comprised 62 million shares, which were sold for 174p per share, with Merrill Lynch and Numis Securities acting as joint bookrunners for the sale.
The US buyout firm bought Pets at Home from Bridgepoint in 2010 for £955m and listed the firm in 2014.
KKR’s sale comes just days after Pets at Home recorded a jump in its third-quarter sales bolstered by its services arm.
Earlier this month Pets at Home shuttered its seven Barkers stores after its foray into a more premium high street store format proved unsuccessful.