Pet Supplies Plus is growing its footprint and offerings via an acquisition.
The largest independent pet retailer in North America has acquired Wag N' Wash, an emerging natural pet food, self-wash, and grooming franchise with more than 15 locations. Each brand will continue to operate as separate entities, providing pet product knowledge, personalized service and a distinct playful, local shopping experience in their respective communities.
With more than 600 stores in 39 states, Pet Supplies Plus was acquired in January 2021 by Franchise Group in an all-cash transaction valued at approximately $700 million. It was previously owned by private equity firm Sentinel Capital Partners.
Pet Supply Plus stores offer a wide assortment of natural pet foods, goods and services. Wag N' Wash is mainly centered on self-wash, grooming services, and natural food options, primarily for dogs and select cat items. Both franchise systems have healthy unit economics as demand for pet products and services continues to grow, according to Pet Supplies Plus.
"The acquisition presents mutual benefits for franchisees, neighbors and guests of both brands," said Pet Supplies Plus CEO Chris Rowland. "Pet Supplies Plus neighbors will see no change and will continue to receive the same neighborly service and access to all the same products for all types of pets. Wag N' Wash guests will continue to enjoy this fun and passionate brand's specialty offerings, but now will have access to an even greater assortment of products."
Rowland noted that new and existing franchise owners will have the opportunity to open a store under the Wag N' Wash or Pet Supplies Plus name, depending on what makes the most sense for the market.
"Being under the Pet Supplies Plus umbrella company allows Wag N' Wash to unlock a new level of purchasing power, funding to advance expansion and collective negotiation for strategic placement in territories that may not make sense for a Pet Supplies Plus store," Rowland said. "Because Wag N' Wash's specialty products and services are focused mainly on dogs, Pet Supplies Plus can further develop its presence in current and new markets without interfering with the neighbor's expectations of our brand."
Wag N' Wash Vice President Kristen Risby said the acquisition adds value to all parties involved. "Our owners find joy in serving their communities and pets well," she said. "Now, they can do this with enhanced resources, such as best-in-class fulfillment and assortment through a collective supply chain, back-office functionality and technology, pricing and cost support and more. It's a win for everyone from the franchise owners to the guests and their pets."
Wag N' Wash original founders Jef Strauss and Dan Remus will remain on for a minimum of two years.
"As the pet landscape evolves, this will allow the brand to reach its full potential by reaching more guests at a better pace," Remus said.
Headquartered in Livonia, Michigan, Pet Supplies Plus ranked No. 20 in Entrepreneur magazine's 43rd Annual Franchise 500 list as of 2022, and is ranked as the Top Full-Service Pet Supplies Franchise for the eighth year running for its exceptional performance in areas including financial strength and stability, growth rate and system size.