Announcement

Collapse
No announcement yet.

PETCO Sale to Complete in 2016 to CVC

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

  • PETCO Sale to Complete in 2016 to CVC

    http://www.petbusiness.com/Petco-To-...-Pension-Plan/

    CVC Capital Partners and Canada Pension Plan Investment Board (CPPIB) have reached a deal to acquire Petco for $4.6 billion. The deal is scheduled to close early in 2016.

    Petco, which operates more than 1,400 locations across the U.S., Mexico and Puerto Rico, is currently owned by a group of investors led by TPG and Leonard Green & Partners. Those investors initially took the company private in 2006. Petco pursued either taking the company public through an initial public offering or sale to a private equity firm prior to this acquisition, according to the Wall Street Journal.

    "Petco is clearly a leader in the industry, with strong further growth potential and a talented leadership team," said Chris Stadler, CVC managing partner, in a statement announcing the acquisition. "The pet category is a growing and dynamic space within which we believe Petco is ideally positioned to further enhance its leadership position.".......................
    Coordinators post updates to the message for grooming events, members contests, PG.com Classified Ads, GroomerTALK Radio shows and PG.com Magazine online.

  • #2
    Which raises the question of an eventual merger, but actually merge or no, won't affect independently owned shops.

    Comment


    • #3
      One of my coworkers who has been with the company for many years said this happens every few years. They go public, sell, go private again for a while then repeat. Probably a whole lota nuthin' for even the employees.

      Sent from my DROID4 using Tapatalk

      Comment


      • #4
        I remember they were public and went back to private about 8 years ago. This could change the management though?? You never know with private equity firms who probably only know statistics and nothing about pets compared to established management, really depends upon the changes in management.

        Comment


        • #5
          Yeah the company being sold happens all the time. There are quite a few corporations that sell and no one even notices a difference when it happens.

          Comment

          Working...
          X