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Deals

Petco owners exploring sale or IPO: Bloomberg News

(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, CPPIB and Petco declined to comment on the report.

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

Reporting by Uday Sampath in Bengaluru; Editing by Aditya Soni and Krishna Chandra Eluri

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