Pets Corner has secured an eight-figure funding package from HSBC UK to support its growth nationally and internationally, and to create up to 320 jobs nationwide.
Pet Family is using the multi-million pound funding to open 10 new stores throughout England including in Chelmsford, Ascot, East Grinstead, Newbury and Colchester by the end of the year with more to follow.
The funding also includes an acquisition of a small retail chain and supports a four-year capital plan to roll out more retail stores, pet spas and veterinary centres.
The funding will also fuel Pet Family’s international growth plan, with the retailer set to launch its presence in Europe by acquiring a stake in a family retailer with seven sites in Europe. Additionally, the brand plans to open stores in the United States, where it currently sells its products to the existing independent pet trade.
The new stores and planned acquisitions are expected to lead to up to 320 new full and part-time jobs in the UK, in addition to the 1,200 employees currently working for Pet Family.
Dean Richmond, the owner of Pet Family, said the retailer is targeting strong, consistent growth of at least 10% per year over the next three years as a result of the planned expansion.
Mr Richmond said: “The support we have received from HSBC UK over the last five years has been invaluable and we are excited to continue to grow our unique offering for pet owners who want the best products for their pet.
“The growth of consumers wanting better products, sourced with integrity has shown no signs of slowing down, and we look forward to expanding internationally, both across Europe and in the USA with the support of HSBC UK.”
