Petco Files IPO

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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Blue Buffalo Stock Rises Significantly

In June 2015, the pet food company Blue Buffalo Pet Products Inc. filed to publicly offer their common stock. This action was approved and share prices increased by 35% on the first day of trading. It was estimated that the company could raise $500 million USD, however, it has already raised $677 million USD.

29.5 million shares were initially offered at $16-18 USD but prices closed at $27.20 per share with 33.8 million shares sold. With share prices increasing the company is currently valued at $5.3 billion USD.

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Blue Buffalo Files for Public Stock Offering

The pet food company, Blue Buffalo Pet Products Inc. “has filed a registration statement on Form S-1 with the Securities and Exchange Commission relating to the proposed initial public offering of its common stock.” The offering is not yet effective and the cost and number of shares to be made available are not public knowledge. Blue Buffalo applied to have its common stock listed on NASDAQ Global Select Market under BUFF. CNBC said that Blue Buffalo could raise up to $500 million USD.

The common stock shares will be sold by existing stockholders. Some shares will be sold to individual investors through a platform administered by LOYAL3. Blue Buffalo will offer free shares to 1,600 non-management employees.

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