Bridgepoint mulls Pets at Home flotation

 
The move, which Bridgepoint Capital is said to have discussed with Goldman Sachs, JP Morgan Cazenove, NM Rothschild and Bank of America Merrill Lynch, is thought to be worth £700 million. The retailer warned that no decision has been taken as yet on the flotation and no banks have been appointed.

Pets at Home recorded a 7.5 per cent rise in like-for-like sales in the year to March 26, bucking the downward trend on the high street. Profit before tax at the retailer was up 29 per cent to £40 million. Bridgepoint Capital bought Pets at Home for £230 million in 2004 and has since expanded its portfolio to 233 UK stores and launched the brand in Australia.