Petco is looking to raise $100 million USD by publicly offering stock. Since 2006 Petco has had two private equity backers, TPG Capital and Leonard Green & Partners. The two companies bought Petco for approximately $1.7 billion USD. Currently, TPG has a 46.8% stake in the company, Leonard Green has 37.5% stake, Freeman Spogli & Co. has 6.7% stake, and Abu Dhabi Investment Authority has 11.9% stake.
Petco currently has 1,409 stores in the United States and Puerto Rico and 13 stores in Mexico. Products are also sold online through Petco, Drs Foster and Smith, LiveAquaria, and Unleashed.
On August 1st, 2015, Petco had cash and cash equivalents of approximately $60 million USD and debt of approximately $2.33 billion USD. In the first half of 2015 Petco saw a 2.9% increase in store sales. Revenue for the fiscal year ended on January 31st, 2015, was almost $4 billion USD, up from $3.8 billion USD the previous year.
Terms of the public offering have not been released.
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