KKR’s recently acquired asset Pets at Home, bought from private equity firm Bridgepoint in January for £955m (€1.1bn), has hired Tony DeNunzio, a high-profile figure in the retail world, having worked as CEO and president of UK supermarket chain Asda.
DeNunzio will act as non-executive chairman for the UK’s biggest specialist pet foods retailer, with Luke Mayhew stepping down from the position.
The new entrant is currently the chairman of Maxeda, said to be the largest non-food retailer in the Netherlands, with operations across Europe within the department store, DIY and apparel sectors.
Matt Davies, chief exectuive of Pets at Home, said, “We are very pleased to welcome Tony as our new chairman. His extensive experience at the top of large and successful retailers will be invaluable to Pets at Home as we continue our expansion, bringing the Pets at Home experience to more and more people across the UK.”
DeNunzio was previously president and CEO of Asda/Wal-Mart UK from 2002 to 2005 and is non-executive director of Alliance Boots, the biggest high-street pharmacy in the UK.
Buy-out firm KKR has already worked alongside DeNunzio given their ownership of Alliance Boots. The firm delisted Boots, as the company remains branded even following its 2006 merger with Alliance Unichem, from the London Stock Exchange for just over £11bn (€12.2bn) in 2007 – the largest European leveraged buy-out by a private equity firm.
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