Press releases | Private Equity & Financial Sponsors, Tax, Finance | 29 May 2018

Travers Smith advises on acquisition of Jollyes Retail Group Limited

Overview

Travers Smith LLP has advised longstanding client Kester Capital LLP ("Kester") on the acquisition of Jollyes Retail Group Limited ("Jollyes") by a newco backed by Kester.

Founded in 1935, Jollyes is the UK's second largest pet retailer with a portfolio of over 70 superstores and concessions across the UK. Jollyes focuses on providing its customer base with pet products and services that combine great quality and value and over time has developed a very successful range of own brand products, including its K9 and Lifestage brands. Jollyes has also recently expanded its offering to customers to include grooming and veterinary services in store.

David Hutchinson, who has held senior executive roles in a number of retail businesses, most recently at Greencross Limited (Australia's leading pet retailer and veterinary services provider), will take over as CEO of Jollyes going forward.

The Travers Smith team was led by Head of Private Equity Paul Dolman, assisted by Private Equity Associates Tom Hartwright, Laura Kelly and Tom Lloyd. The team also included Tax Partner Russell Warren, assisted by Associate Tom Margesson and Finance Partner Matt Ayre, assisted by Senior Associate Fiona Swords and Associate Daniel Domb.

Travers Smith LLP previously advised Kester Capital and management on the acquisition of Ceta Insurance Ltd in 2017.

The shareholders of Jollyes were advised by corporate finance advisers Cavendish Corporate Finance and legal advisers asb law LLP, and legal advice was provided to the new management team by Stevens & Bolton LLP.