Petco May Be Heading for an IPO as a $6 Billion Company
Petco Animal Supplies, a privately held pet retailer which sells small animals as well as pet food and other pet supplies, may be put on sale or launch an IPO in 2021, according to news first broken yesterday by Bloomberg. The enterprise, which has 25,000 employees and 1,500 locations across North America, is said to have a value (including debt) of approximately $6 billion, making its IPO or sale a potentially major event in the pet retail industry.
In addition to its sale of supplies and small pets such as hamsters, many of its locations feature veterinary services, which are integrated with a digital pet medical advice service, PetCoach. While Petco is headquartered in San Diego, it is currently jointly owned by the Canada Pension Plan Investment Board and Luxembourg-based private equity firm CVC Capital Partners.
Image source: Getty Images.
Source Fool.com
