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Livonia-primarily based Pet Supplies Additionally has a new proprietor immediately after $700 million sale

A neighborhood firm billed as one particular of the nation’s premier pet provides shops has a new owner, just a number of many years right after it obtained the organization.

Livonia-centered Pet Provides Furthermore will be offered to Virginia Seaside-based Franchise Group, Inc., according to a news release shared online Monday. The sale of the pet provides business, which is headquartered at 17197 N. Laurel Park Dr. in Livonia in the vicinity of Interstate 275, will be finalized later on this spring. The deal is valued at about $700 million.

Sentinel Capital Companions, centered in New York Metropolis, purchased the Livonia-dependent pet supplies enterprise in late 2018 for an undisclosed price tag. The firm specializes in acquiring and constructing up small to mid-vary sized businesses.

“We are very happy with PSP’s significant growth and effective integration of new franchisees into its process,” said Marc Buan, a Sentinel principal, in a news release. “PSP is the #1 pet franchisor in the U.S. in an interesting, rising industry driven by loyal shoppers passionate about pet possession. We have been honored to do the job with PSP’s hugely dedicated and talented administration workforce who have superbly positioned the company for continued development.”