CB Richard Ellis (CBRE) said that it has advised private equity firm Kohlberg Kravis Roberts (KKR) on the purchase of British retailer, Pets at Home, from Bridgepoint and other co-investors for £955 mln (EUR 1 bn). The deal represents one of the largest private equity transactions of the past few years, CBRE said.

CB Richard Ellis (CBRE) said that it has advised private equity firm Kohlberg Kravis Roberts (KKR) on the purchase of British retailer, Pets at Home, from Bridgepoint and other co-investors for £955 mln (EUR 1 bn). The deal represents one of the largest private equity transactions of the past few years, CBRE said.

CBRE's Out of Town retail team advised KKR on the acquisition of the portfolio which includes around 250 stores located throughout the UK, and provided KKR strategic advice on the future expansion potential of the Pet retailer. Pets at Home are expected to continue to expand their store base significantly.

Lawrence Earnshaw, director of CBRE's Out of Town retail, said: 'This is an exciting opportunity for CBRE to assist KKR in the acquisition and further development of a highly successful business in the UK.'

KKR's other retail investments include health and beauty group Alliance Boots and toys chain Toys 'R' Us. CBRE previously advised KKR on the purchase of Toys 'R' Us in 2005.

Nomura acted as financial advisor to KKR. Nomura, Calyon and KKR Capital Markets are arranging debt financing for the transaction and Commerzbank has agreed to join the arranging group. Simpson Thacher & Bartlett is acting as legal advisor to KKR. Rothschild is advising the seller and Travers Smith is providing legal counsel.