Nine years after going private, Petco files for a new IPO; says it has $4B in annual revenue
Petco plans to go public again almost nine years after two private equity firms bought the pet store operator.
For the purpose of calculating a filing fee, the San Diego company says it expects to raise $100 million through an initial public offering.
The retailer of pets, pet food, supplies and services has around 1,400 stores around the U.S. and 13 in Mexico that are run through a joint venture. Petco says it earned net income of $75 million on revenue of $4 billion its latest fiscal year.
Petco, now known as Petco Holdings Inc., was acquired by private equity firms TPG Global and Leonard Green & Partners in October 2006. Those companies and other investors will maintain majority voting power in Petco after its IPO.