Jollyes, the Pet Industry Federation’s current retail chain of the year, has secured significant backing from investment funds managed by TDR Capital to enable it to accelerate its UK store growth plans.

Leading UK private equity investor Kester Capital has sold its stake in the business after six successful years during which Jollyes' workforce, revenue and profitability more than doubled.

International legal practice Osborne Clarke advised Jollyes and Kester Capital. The team was led by private equity partner Tim Hewens and including associate director Seamus McKimm, senior associate Lottie France and associate Matt Mayes with support from real estate partner Dolf Darnton and and associate Michael Zajdel."

The Jollyes management team was advised by Osborne Clarke private equity partner Mike Freer and associate director William Nicolson.

The new investment from TDR Capital will enable Jollyes to continue to grow its store estate at pace, as it strengthens its position as a highly competitive number two in the UK retail pet market.

TDR Capital was advised by HSBC and Barclays (M&A), PwC (financial and tax) and CMS (legal). Kester Capital was also advised by Houlihan Lokey (M&A) and PwC (financial and tax). Management was also advised by Jamieson (financial) and Blick Rothenberg (tax).

Osborne Clarke’s private equity team is a go-to practice for many companies in the retail and consumer sector, working with clients ranging from global businesses to fast-growth start-ups. The team advises at every stage of company development across all corporate issues, from equity and debt fundraisings to M&A, IPOs and JVs.

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