Standout leader in the highly attractive UK pet care market

  • Nationwide store portfolio, larger than our five closest competitors combined

  • The UK’s largest pet services provider – number one in both small animal veterinary practices and grooming services

Unique ‘one stop shop’ for pet owners

  • Customer and colleagues’ shared passion for Pets creates high levels of service, loyalty and sales

  • Differentiated product range, with a wide range of private labels

  • Pet services, including vet practices and grooming salons, increase footfall to stores and cross-selling opportunities

  • Customer loyalty programme, VIP club, offers opportunities for customer engagement and market share gains

  • Leading specialist website, to capture the growing omni-channel opportunity

Clear growth story with multiple levers

  • Improve like-for-like growth: through the sale of premium pet foods, product innovation, VIP loyalty club sales, omni-channel expansion and growing pet services

  • Space rollout: a UK target portfolio of >500 stores, >700 veterinary practices and >350 grooming salons

  • Opportunity to retrofit vet practices and grooming salons into our existing stores

  • Focus on operating margin improvement underpinned by the growth of pet services and private label products

  • Strong financial performance and highly cash generative

  • Consistent track record of like-for-like, EBITDA and earnings growth

  • Strong cash returns on invested capital and high free cash flow conversion

  • Dividend payout ratio around 50% of earnings