ETHICAL pet retailer Pets Corner has snapped up rival PamPurredPets for £6 million.

The takeover makes family-run Pets Corner the second biggest pet retailer in the UK, adding more than 50 new stores, including six in Sussex.

Over the past year Pets Corner has consolidated its market leading position by successfully opening 14 new stores in 2015, with more planned for 2016.

The acquisition of the shares of PamPurredPets will add stores in Chichester, Rustington, Worthing, Horsham, Burgess Hill and Brighton to its existing portfolio of 110 shops.

Family-run Pet’s corner started out as a humble pet shop in Haywards Heath in 1968.

Animal lovers Mark and Sandra Richmond, who kept dogs, cats, birds, fish, horses and chickens, built up the business to seven stores, until handing over to son Dean, who had worked for them since the age of 16, and his friend Steven Charman.

The business is now headquartered in Crawley and employs 500 people.

Pets Corner will continue running PamPurredPets as a separate entity but plans to rebrand the stores over the next few years and add Pet Practice veterinary concessions to seven of the locations.

PamPurredPets’ staff will be introduced Pets Corner's classroom based training programme.

Cavendish Corporate Finance advised Pets Corner on the debt facility used to complete the deal.

Managing Director Dean Richmond said: “PamPurredPets’ stores are ideally positioned to complement and enhance our existing portfolio and reach our core customer base.

“The addition of PamPurredPets enables us to bring the Pets Corner Difference to new customers whom we hope will enjoy the benefits of our exceptional expert advice and high quality products in a place that is convenient for them.”

Nick Jones, Partner at Cavendish Corporate Finance, added: “This was an exciting acquisition opportunity and we are delighted to have advised Dechado Group on finding the appropriate debt funding to facilitate this strategic acquisition.

“It consolidates Pets Corner’s market leading position and significantly boosts its UK store network.

“Overall conditions for SMEs seeking debt have improved, though the debt financing area remains opaque and fragmented, which can hinder businesses from finding a suitable solution and we have seen a strong rise in interest from growth companies keen to access our advice to help them navigate the complex debt finance market.”