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Canada: CPPIB to buy Petco for $4.6 billion

By  |  November 23, 2015

Petco Holdings agreed to be acquired by CVC Capital Partners Ltd and the Canada Pension Plan Investment Board in a $4.6 billion deal, after merger talks with market leader PetSmart Inc stalled last month due to antitrust concerns.

Petco, the number 2 US pet supplies retailer, had been put up for sale by a group of investors led by private equity firms TPG Capital LP and Leonard Green & Partners, the company said on Monday.

TPG Capital and Leonard Green bought Petco for the second time when it was a public company in 2006 in a $1.7 billion deal. The two buyout firms had also taken the company private in 2000 for $600 million, and then took it public again in 2002.

Full content: Reuters

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