Cheshire-based Kids Planet has acquired a fellow North West nursery group as its rapid expansion continues.
The firm with 65 nurseries across the North West and Midlands has bought Poppy & Jack's, a Preston-based business with 10 sites around the region.
BGF-backed Kids Planet said the move continues its "rapid expansion" and focus on providing outstanding care for children.
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Poppy & Jack’s was backed by Foresight Group – the infrastructure and regional private equity investment manager – which exits as part of the deal.
Kids Planet now has 75 nurseries across the North West and Midlands, providing care to more than 10,000 children.
Clare Roberts, Kids Planet chief executive, said: “Poppy & Jack’s is a nursery group with the same mission and values as our own. It’s a natural fit for our expanding portfolio and we look forward to working with the teams.
"At Kids Planet, we provide the best possible start for children and are excited to continue to welcome children and parents to the fantastic settings. We are very much looking forward to providing an outstanding level of childcare that is our hallmark.”
Kids Planet received £10m initial fund from investor BGF in 2016 when it had 17 nurseries.
BGF has invested a further £15m, taking its total to £41m to support recent acquisitions. This is the business’ fifth follow-on investment, which has supported its ambitious plans for long-term growth.
Poppy & Jack's turned over almost £4m in 2020 - with an operating loss of around £157,000.
Sarah Bellamy, CEO of Poppy & Jack’s, said: “Over the last few years, we have successfully grown through acquisition.
"After nurturing the business to this point, it was so important to us to find the best possible home for the future of Poppy & Jack’s.
"Clare and the team at Kids Planet are the perfect guardians to take the group through its next stage of growth.”
Pinesh Mehta from BGF added: “This is a fantastic deal for all involved as Kids Planet continues with its successful expansion and proven acquisition strategy.
"There’s still significant potential across the UK as the business continues to expand in the North West and beyond.”
