CVC Capital Partners and the Canada Pension Plan Investment Board have agreed to acquire U.S. pet retailer Petco for about $4.6 billion. The deal is expected to close in early 2016.
Petco is currently owned by a group of investors led by TPG and Leonard Green & Partners. The company sells pet food and supplies, with more than 1,400 locations across the U.S., Mexico and Puerto Rico. Many locations also have other in-store services like grooming.
“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 press release today.