Franchise Brands acquires Barking Mad to add to its existing portfolio
The international franchisor is acquiring the pet care franchise for £900,000 in a combination of cash and shares
International franchisor Franchise Brands has acquired pet care franchise Barking Mad to add to its existing portfolio of franchises, with the deal struck for £900,000 in a combination of cash and shares.
The deal represents Franchise Brands’ first acquisition since launching on AIM in August 2016, when it outlined its strategy to build the group by acquiring “high quality” franchises.
Established in 2000 as an ‘alternative to kennels’ by Lee Dancy, Barking Mad offers dog grooming and dog washing via self-contained “state of the art” mobile salons.
It currently has 75 franchised territories across the UK, operated by 71 franchisees and serves an estimated 20,000 customers.
Founded in September 2008 by Stephen Hemsley and Nigel Wray, Franchise Brands is a group of international multi-brand franchisors and has an existing portfolio of over 400 franchisees in 12 countries.
Stephen Hemsley, executive chairman, Franchise Brands, said:
“We are delighted with the acquisition of Barking Mad which fits very well with our strategy of acquiring high quality franchise businesses that can benefit from our central services and which has a similar customer base to that of our two main existing brands, ChipsAway and Ovenclean.”
Lee Dancy, managing director, Barking Mad, said:
“We are looking forward to working with the team at Franchise Brands whose clear experience in successfully growing high quality franchise businesses will help us greatly in the next stage of our development.”