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Company News

Petco owners exploring sale or IPO - Bloomberg News

Sept 9 (Reuters) - CVC Capital Partners and Canada Pension Plan Investment Board (CPPIB) are exploring a sale or initial public offering of Petco Animal Supplies Inc that could value it at $6 billion, including debt, Bloomberg News reported on Wednesday.

CVC and CPPIB are interviewing potential advisers while reviewing strategic options, with formal efforts around a sale or IPO not expected to kick off until next year, Bloomberg said, citing people with knowledge of the matter. (bloom.bg/32bvHhe)

CVC declined to comment on the report. CPPIB and Petco did not immediately respond to Reuters requests for comment.

CVC and CPPIB in 2016 acquired the pet supplies retailer for about $4.6 billion from TPG Capital LP and Leonard Green & Partners LP.

Reporting by Uday Sampath in Bengaluru; Editing by Aditya Soni

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