Consumer

Jollyes / Kester Capital

Client
Year

2022


Transaction type Debt Advisory

Sector Consumer

“The dedication of the Penparc team to their pet-owning customers have made them legendary in the towns they trade. We couldn’t be prouder to bring them into the Jollyes team. Whether organically or through acquisition, we remain ambitious as we seek other opportunities to grow.”

JOE WYKES
CEO, JOLLEYES

Cavendish Debt Advisory advises Jollyes, the UK’s second largest pet retailer and portfolio company of Kester Capital, on raising debt facilities from HSBC to fund an acquisition as well as recapitalise the business.

Jollyes provides a broad range of specialty pet products including food, accessories and toys as well as grooming and veterinary services. Jollyes used its new funding to acquire Midlands-based retailer Penparc Pet Centre Group which operates five stores in Cannock, Stafford, Stoke-on-Trent, West Bromwich and Telford, taking the total number of Jollyes stores to 80.

Alistair Hay, Partner & Head of Cavendish Debt Advisory:

“It was great to work with Joe and the Kester team to help put in place a facility to fund the acquisition of Penparc as well as give Jollyes a solid platform from which to continue growing. HSBC stood out as the ideal lender for Jollyes and will provide further support to the business’ growth”

Meet the deal team

  • Alistair Hay

    Alistair Hay

    Partner


    ahay@cavendish.com

    +44 (0) 20 7908 6037

  • Krishan Raval

    Krishan Raval

    Director


    kraval@cavendish.com

    +44 (0) 20 3772 4706

  • Rosie Pennell

    Rosie Pennell

    Senior Associate


    rpennell@cavendish.com

    +44 (0) 20 3772 4702

  • Peter McCague

    Peter McCague

    Senior Associate


    pmccague@cavendish.com

    +44 (0) 20 3772 4681

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