Kohlberg Kravis Roberts has brought in veteran buyout board member Tony DeNunzio to chair new portfolio company Pets at Home.
DeNunzio was at the helm of supermarket chain Asda/Wal-Mart UK between 2002 and 2005 as president and chief executive. He currently sits on the boards of two other KKR-owned businesses.
He is a non-executive director of Alliance Boots – which KKR delisted for £11.1 billion (€12.4 billion; $16.5 billion) in Europe’s largest ever leveraged buyout in 2007 – and is executive chairman of Maxeda, a Benelux retail giant bought by KKR in 2004 in partnership with private equity peers Cinven, AlpInvest and Permira.
He succeeds Luke Mayhew as Pets at Home chairman.
KKR acquired Pets at Home earlier this year for £955 million from Bridgepoint. The UK-based retail chain sells pet food, pet products as well as fish and small animals from 259 stores. It also operates 59 veterinary surgeries via a joint venture. In the year to March 2009 the company turned over £404.2 million and generated EBITDA of £70 million.