KKR To Buy Pets At Home For $1.5B

Law360, New York (January 27, 2010, 2:28 PM EST) -- Private equity firm Kohlberg Kravis Roberts & Co. has agreed to purchase U.K. pet store giant Pets at Home from Bridgepoint Capital Ltd., the companies confirmed Wednesday.

The terms of the transaction were not disclosed, but Dow Jones reported that KKR would pay £955 million (more than $1.5 billion) for the pets business.

That price would represent a heavy return for Bridgepoint from the £230 million it paid to acquire the business in August 2004. Since then, Pets at Home's sales have more than doubled, Bridgepoint...
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