North Wales retailer PetPlace is under new ownership following a management buyout (MBO).
Sion Pritchard and Paul Penketh, directors of Snowdon Holdings, were already running the PetPlace business and are now majority shareholders, having completed the MBO from founder Gwyn Lewis.
The company has stores in Abergele, Ruthin, Mold, Llangefni and Chirk, and a headquarters on Tir Llwyd Enterprise Park in Kinmel Bay. During the covid lockdown, the company opened a new dispatch warehouse to manage the growing number of online orders and also devised a shopper loyalty app.
With turnover exceeding £10m for the first time, the management team plans to expand the 100-strong team with more sales and administrative staff, with the potential to open further stores in the coming years.
Sion said: “The last two years have raised challenges but also given us the opportunity to advance the business in-store and behind the scenes. Everything is moving in the right direction, but we are looking at the future, which will eventually include further stores and more staff.
“Whatever happens, we will continue with our long-term and controlled approach and as always the pets and their owners are the number one for priority for everyone here.”
Gwyn Lewis originally founded Farm and Pet Place in 1970, starting from the back of a van. He described himself as “thrilled” that the organisation he founded will be in “safe hands” for the next generation.
He said: “I am excited to take a step aside and embrace this new era. Paul and Sion have so many wonderful ideas and will lead PetPlace to even greater heights, I’m sure.
“I am proud of them both and of course delighted to see PetPlace go from strength to strength after all these years – best of luck to you both.”