Ontario-based Pet Valu and Florida-based Pet Supermarket announced Monday that they have merged, creating the third largest pet specialty retailer in North America. The new business is named Pet Retail Brands and has more than 930 stores and generate about $1 billion in retail sales across the U.S. and Canada, according to a statement. Details about the agreement weren't disclosed. Pet Value was taken private by Roark Capital Group, whose other brands include Arby's and Focus Brands, the owner of Cinnabon, Moe's Southwest Grill, and Carvel Ice Cream, among other brands. Pet Supermarket was acquired by a Roark Capital affiliate in April 2015. Both companies will remain headquartered in their current locations. Thomas McNeely, chief executive of Pet Valu, will become president and chief executive of Pet Retail Brands. Diane Holtz, chief executive of Pet Supermarket, has announced her retirement. The top two pet retailers in North America are PetSmart and Petco, according to the publication Pet Business.
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