Management buy-out of pet retailer
A PIONEERING pet retailer is under new ownership and on the rise following a period of recruitment and investment.
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.
Both Paul and Sion, from Colwyn Heights, were already leading the North Wales business – supported by founder Gwyn Lewis – and are thrilled to be at the helm as Petplace begins a new era.
With turnover exceeding £10m for the first time, plans to expand their 100-strong team with more sales and administrative staff and the potential to open further stores in the coming years, Sion says they are perfectly placed to grow further post-pandemic.
“The last two years have raised challenges but also given us the opportunity to advance the business in-store and behind the scenes,” said Sion.
“Everything is moving in the right direction, but we are looking at the future, which will eventually include further stores and more staff.
“Whatever happens, we will continue with our long-term and controlled approach and as always the pets and
their owners are the number one for priority for everyone here.”
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 Gwyn’s initial stewardship to become the region’s
leading independent pet product retailer. He is thrilled the organisation he founded will be in “safe hands” for the next generation and 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.”
Paul added: “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.”