VCA to Acquire Camp Bow Wow Chain
Camp Bow Wow founder and Chief Executive
Heidi Ganahl
shelved plans for a day-care business for dogs after her husband died in a plane crash 20 years ago.
Now,
after leaving a career in pharmaceutical sales, creating two startups
that sputtered and spending most of a million-dollar insurance
settlement, Ms. Ganahl has reminted herself a millionaire. She has
agreed to sell Camp Bow Wow to
VCA Inc.
and join the Los Angeles pet health-care company to plot Camp Bow Wow's expansion.
VCA,
which has a stock market value of $3.3 billion, operates more than 600
animal hospitals and provides diagnostic services to others. Terms of
the transaction weren't disclosed. Franchisers such as Camp Bow Wow
often are bought for single-digit multiples of the yearly fees they
receive from franchisees. Camp Bow Wow collected about $4 million in
such fees last year.
As part of the
deal, Ms. Ganahl plans to hire a president to run Camp Bow Wow's
day-to-day operations, while she, as chief executive, focuses on
strategy. Camp Bow Wow's core business offers day care for dogs at
franchise-owned facilities, starting at about $25 a day, as well as
overnight boarding for between $40 and $60 a night.
Full article
http://online.wsj.com/articles/vca-to-acquire-camp-bow-wow-chain-1407175570
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