Irving Place Capital to acquire Pet Supplies "Plus"

New York City Private equity firm Irving Place Capital said Thursday it will acquire pet specialty retailer Pet Supplies "Plus."

Irving Place Capital said it will be investing in partnership with Pet Supplies “Plus” CEO Harvey Solway, COO Dominic Buccellato and CFO Richard Valade.

The transaction is expected to close in third quarter 2010.

Pet Supplies “Plus” currently operates 240 franchised stores in 22 states. Following the transaction, 92 stores will be converted to company-operated stores, with the remaining stores continuing as franchised stores.