Pet Supplies Plus Sold To Top Execs
Date AddedAugust 14, 2010 01:39:55 AM
Author
CategoryPet Franchises
They plan to convert 92 of the chain's 240 franchise stores into company stores.
The Farmington Hills-based pet supply chain was founded in 1988 and operates in 22 states. It has 54 stores in Michigan and is the third-largest pet specialty retailer in the country.
Irving Place Capital of New York has partnered with Harvey Solway, Pet Supplies Plus' CEO Dominic Buccellato, the chief operating officer, and Richard Valade, the chief financial officer.
Details of the transaction, expected to close in the third quarter, were not disclosed.
Irving Place Capital has made other retail investments including Aéropostale, New York & Company, the Vitamin Shoppe, Seven for All Mankind and Stuart Weitzman.
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