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Mario of FT Alphaville from Wario, Betaville’s M&A blog, sent an interesting story this morning to subscribers about UK listed pets at home.
Pets at Home Group, a pet food retailer on the FTSE 250 list, is at the heart of the acquisition rumours.
People who follow the situation have heard of pet pets at home.
Some people who followed the situation suggested that private equity companies that circulate their home pets may be based in Europe, but have similar businesses to pets in their homes in the US.
Interestingly, we had heard similar speculation after an interestingly named vehicle appeared on the corporate house register: Pug Bidco.
The Pug Bidco registration document lists Michael Chan, one director, at 650 Madison Avenue, New York. The vehicle’s registered address is 40 Portman Square, London. Both of these are the offices of BC Partners, a private equity group.
A person named Michael Chan is a partner of BC Partners. He was part of the team that acquired Private Petsmart, a US pet supplies retailer in 2015 and bolted its bolts in 2017 on the chewy Pet-Food website.
We call pets at home, call our BC partners and update our stories as soon as they answer.
