Pet Supplies Plus Acquires 20 Loyal Companion Pet Stores from Parent Company Independent Pet Partners

Rhea-AI Summary

Pet Supplies Plus has announced the acquisition of 20 Loyal Companion Pet Stores, expanding its footprint in the Northeastern U.S. The acquisition involves ten stores converting to Pet Supplies Plus and ten to Wag N' Wash. This strategic move aims to enhance market presence across five states: MA, MD, ME, NH, and VA. Notably, the deal will benefit franchisee partners, increasing their store count significantly. Following this acquisition, Wag N' Wash's locations will grow from 14 to 24. The company plans to transition corporate stores to franchisee ownership within months, reinforcing their mission to deliver high-quality pet products and services.

Positive

• Acquisition of 20 stores enhances market presence in the Northeastern U.S.
• Conversion of corporate stores to franchises supports franchisee growth.
• Wag N' Wash's national store count increases from 14 to 24.

Negative

• None.

Leading Pet Retailer to Strengthen Presence in the Northeastern U.S. for Pet Supplies Plus and Wag N' Wash

LIVONIA, Mich., March 2, 2023 /PRNewswire/ -- Pet Supplies Plus ("PSP" or the "Company"), the largest independent pet retailer in North America with over 660 stores in 41 states, and Wag N' Wash, the emerging grooming, self-wash,  and natural pet food franchise, are expanding in the Northeastern United States through their latest acquisition of 20 Loyal Companion Pet Stores from their Parent Company, Independent Pet Partners. Of these twenty stores located in MA, MD, ME, NH, and VA, ten will be Pet Supplies Plus stores and ten will be Wag N' Wash stores.

Pet Supplies Plus Acquires 20 Loyal Companion Pet Stores from Parent Company Independent Pet Partners

Pet Supplies Plus offers pet parents a convenient, high-touch shopping experience featuring a full assortment of pet products for all types of furry, scaly, and feathery friends, hard goods, and supplements along with self-wash and grooming. Wag N' Wash focuses on grooming services, self-wash, along with natural food options, supplements, and hard goods primarily for dogs.

"This is an incredible way to start the year, as this acquisition allows Pet Supplies Plus and Wag 'N Wash to considerably grow their presence throughout the Northeast in a brief period," said Chris Rowland, CEO of Pet Supplies Plus and Wag N' Wash.

While eight of the converted stores are corporate stores for now, twelve are owned by the company's first dual-branded franchisee group comprised of Caitlin Greene, Ryan Greene, and Ray Vigneault. Through this acquisition, Greene, Greene and Vigneault will grow their portfolio by 8 Pet Supplies Plus stores and four Wag N' Wash stores, bringing their totals store count to thirty-seven comprised of 28 Pet Supplies Plus stores and 9 Wag N' Wash stores.

"Over the last few years, we've grown with Pet Supplies Plus and more recently, with Wag N' Wash. This new acquisition is yet another opportunity to expand our multi-unit, multi-brand portfolio and serve more pet parents through our vast service offerings," said franchisee Ray Vigneault.

This acquisition will also grow Wag N' Wash's national store count from 14 to 24 with several dozen more in the pipeline to open within the next few years. Wag N' Wash is especially excited to open a corporate Wag N' Wash near their headquarters in Michigan this Spring.

"We would like to thank everyone involved who helped execute this acquisition so quickly and so smoothly. We are incredibly excited to bring even more neighbors the best-in-class products and services that Pet Supplies Plus and Wag N' Wash offer," said Nick Russo, Chief Development and Stores Officer of Pet Supplies Plus.

The company plans to convert the eight recently acquired locations operating as corporate stores to franchisee-owned stores within the next few months. "We always want to take advantage of prime real estate and strong customer bases and are already in discussions with qualified franchise owners who are excited to add Pet Supplies Plus and Wag N' Wash to their portfolios," said Russo.

This acquisition furthers Pet Supplies and Wag 'N Wash's mission to provide high-quality products and services to pet lovers everywhere. As both brands continue to grow and provide best-in-class support to new and existing franchisees, they continue to solidify their position as the "Top Dog" in the world of pet franchises.

About Pet Supplies Plus
Pet Supplies Plus, a subsidiary of Franchise Group, Inc. (NASDAQ: FRG), is focused on making it easier to get better products and services for your pet. With over 660 locations in forty-one states and counting, the stores have a streamlined design making it easy to navigate a wide assortment of natural pet foods, goods, and services. Additionally, www.petsuppliesplus.com provides neighbors with additional shopping options to better meet their pet-shopping needs. Headquartered in Livonia, Michigan, Pet Supplies Plus is ranked No. 22 in Entrepreneur magazine's 43^rd Annual Franchise 500® list as of 2023 and is ranked as the Top Full-Service Pet Supplies Franchise for the ninth year running for its exceptional performance in areas including financial strength and stability, growth rate and system size. For more information on Pet Supplies Plus franchise opportunities, visit www.petsuppliesplusfranchising.com.  

About Wag N' Wash
Wag N' Wash Natural Pet Food & Grooming, a full-line dog grooming and self-wash specialty retail destination, has a mission to recognize, promote and foster the positive impact that companion pets and their humans have on each other. Wag N' Wash provides full-service grooming, self-wash facilities, baked dog treats, natural food, supplements, and toys. In 2020, Wag N' Wash was ranked on Denver Business Journal's Colorado-Based Franchisors List, Franchise Times Top 200+ List and Included on Franchise Gator's Top 100 Franchisees List for the third year. Today, there are 14 Wag N' Wash locations open across the nation. To learn more about Wag N' Wash, please visit https://www.wagnwashfranchising.com/.

Media Contact: Angelic Venegas, Fishman PR, (847) 945-1300, avenegas@fishmanpr.com

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SOURCE Pet Supplies Plus

FAQ

What is the purpose of Pet Supplies Plus acquiring 20 Loyal Companion Pet Stores?

The acquisition aims to expand market presence in the Northeastern U.S. and enhance service offerings.

When was the acquisition of Loyal Companion Pet Stores announced?

The acquisition was announced on March 2, 2023.

How many stores will be converted to Pet Supplies Plus and Wag N' Wash?

Ten stores will be converted to Pet Supplies Plus and ten to Wag N' Wash.

What impact will the acquisition have on Wag N' Wash's store count?

Wag N' Wash's store count will increase from 14 to 24 following the acquisition.

What regions are affected by the acquisition of Loyal Companion Pet Stores?

The acquisition impacts stores located in Massachusetts, Maryland, Maine, New Hampshire, and Virginia.