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”