Specialist retailer Pets at Home has moved closer to a flotation with the appointment of JP Morgan Cazenove as joint sponsor, joint bookrunner and joint global coordinator.
JP Morgan Cazenove will “examine the options for a potential IPO of the company in 2010, subject to market conditions”, the retailer revealed.
Pets at Home chief executive Matt Davies said: “Pets at Home has enjoyed fantastic growth over recent years and we believe there remains a significant opportunity to build on the Pets at Home experience and to take it to more pet lovers across the UK.
“This appointment signals our wish to be prepared should the IPO market begin to look attractive as one of the exit options open to us.
“In the meantime, we will continue to focus on delighting our customers with high quality products, outstanding customer service and great value for money.”
Rothschild will continue to advise Pets at Home on all aspects of any exit process.
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