CVC Capital Partners, CPPIB To Buy Pet Food Retailer Petco For About $4.6 Bln

By MarketWatch Pulse

CVC Capital Partners and Canada Pension Plan Investment Board (CPPIB) said Monday they have agreed to buy Petco Animal Supplies Inc. for about $4.6 billion. The seller is a group of investors led by private-equity firms TPG and Leonard Green & Partners, that took Petco private in 2006 in a deal valued at $1.4 billion. Petco, which had filed to go public earlier this year, is a retailer of pet food, supplies and services with more than 1,400 locations across the U.S., Mexico and Puerto Rico. The deal is expected to close in early 2016.

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