Petco Owners Weighing $6 Billion Sale or Public Offering
- Private equity investors CVC, CPPIB acquired retailer in 2016
- Moody’s in April downgraded Petco deeper into junk territory
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The owners of Petco Animal Supplies Inc. are exploring a sale or initial public offering that could value the retail chain at $6 billion, including debt, according to people with knowledge of the matter.
CVC Capital Partners and Canada Pension Plan Investment Board are interviewing potential advisers while reviewing strategic options, said the people, who requested anonymity because the talks are private. Formal efforts around a sale or IPO are not expected to kick off until next year, one of them said. The owners could still decide to retain the company.