Bridgepoint drops Pets sale

Bridgepoint, the pan-European buyout house, has junked plans to pursue an exit of Pets at Home, a pet shop chain it bought in 2004.

The Financial Times said that Bridgepoint has decided that a sale or flotation would not attract a deserving price during the current economic uncertainty.

TMN reported last November that Bridgepoint had appointed Rothschild, Citi and JPMorgan Cazenove to investigate a price of up to £650m (US$1.295bn) through a sale or IPO.

Bridgepoint said that there was no need to sell and that plans had been shelved for the foreseeable future.