Pet retailer’s new owner to ramp up expansion
A PET retailer is under new ownership as it looks to ramp up expansion.
Sion Pritchard and Paul Penketh, directors of Snowdon Holdings, are now majority shareholders of PetPlace having completed a management buyout (MBO).
The company has stores in Abergele, Ruthin, Mold, Llangefni and Chirk, and a headquarters on Tir Llwyd Enterprise Park in Kinmel Bay.
The deal provides an exit for founder Gwyn Lewis.
With turnover exceeding £10m for the first time the new owners plan to expand the 100-strong team with more sales and administrative staff and the potential to open further stores in the coming years.
“The last two years have raised challenges but also given us the opportunity to advance the business in-store and behind the scenes,” said Mr Pritchard
“Everything is moving in the right direction, but we are looking at the future, which will eventually include further stores and more staff.
Among the biggest developments during Covid was the opening of a new dispatch warehouse to manage the growing number of online orders, and a popular loyalty app.
It is all a long way from the launch of Farm and Pet Place in 1970, which started from the back of a van and grew under Mr Lewis’ initial stewardship to become the region’s leading independent pet product retailer.
Mr Lewis said: “I am excited to take a step aside and embrace this new era. Paul and Sion have so many wonderful ideas and will lead PetPlace to even greater heights, I’m sure.
“I am proud of them both and of course delighted to see PetPlace go from strength to strength after all these years – best of luck to you both.”
Mr Penketeh said: “Both Sion and I are proud to have been part of the PetPlace family for a long time, so to now be taking it forward and building for the future is a huge privilege for us.
“There are many exciting developments on the horizon as we continue to evolve and have a positive impact on the local economy and the specialist pet retail sector – watch this space.”