Source: PR Newswire
Pet Supplies Plus and Wag N’ Wash have officially separated from the Franchise Group, Inc., becoming an independent corporate entity to enhance operational autonomy and accelerate brand growth. Although the Franchise Group previously had no involvement in day-to-day operations, the reorganization formalizes the brands’ independence, including establishing their own ownership and board. The transition, which does not affect franchise or corporate store operations, was completed through the companies’ first whole-business securitization.
This low fixed-rate financing structure will reduce interest expenses and support future expansion. CEO Chris Rowland said the move allows the organizations to chart their own course, streamline operations, and strengthen franchise development. Looking ahead, both brands will continue focusing on business growth, franchisee success, and delivering high-quality products and services for pet owners. CFO Dan McNamara highlighted that the securitization positions the companies for long-term growth. Both brands are actively recruiting new single- and multi-unit franchisees.