 | |
 Pet Valu store in North Bay, Ontario | |
| Company type | Public |
|---|---|
| Traded as | TSX: PET |
| Industry | Pet retail |
| Founded | 1976; 48 years ago (1976) |
| Headquarters | Markham, Ontario, Canada |
| Key people | Richard Maltsbarger (CEO) |
| Products | Pet food, accessories |
| Revenue | $648 million (2020) |
| Owner | Roark Capital Group |
| Website | petvalu |
Pet Valu Holdings Ltd. is a Canadian pet food and accessory retailer founded in 1976.
The company's first initial public offering occurred in 2009 when Roark Capital Group took over the company for an estimated $144 million.
Its stores, franchises and subsidiaries generated $574 million in 2019 and $648 million in 2020.
Richard Maltsbarger became its CEO in 2018. At the time, Roark Capital owned all of the company. However, when it completed its $316-million initial public offering on the Toronto Stock Exchange, Roark Capital sold some of its shares but retained sixty-two per cent.
RBC, Barclays Capital Canada, and CIBC World Markets underwrote the IPO.
In November 2020, the company announced that it would close all its stores located in the United States.
At the end of 2021, the organization had 633 corporate and owned stores and franchises in Canada.
In 2022, Pet Valu acquired Quebec chain Chico's 66 stores.
According to Maltsbarger, the company owns 225 out of its 744 stores, while the remaining stores are franchised to local owner-operators.
Sources
- "Pet Valu offers rosy outlook as it grows market share in lucrative pet industry". thestar.com. 2023-03-07. Retrieved 2023-04-07.
- McBain, Kevin (2020-11-24). "Pet store chain chomping at the bit to open in Liverpool". Toronto Star. Retrieved 2023-04-07.
- McBain, Kevin (4 December 2020). "Pet store chain chomping at the bit to open in Liverpool". LighthouseNOW Progress Bulletin. Retrieved 2023-04-07.
References
- ^ George-Cosh, David (2021-06-08). "Pet Valu announces plans to go public to clear debt, boost store count". BNN Bloomberg. Retrieved 2021-03-28.
- ^ Daly, John (2022-09-19). "Pet Valu Holdings is making bank helping doting owners spoil their fur babies". The Globe and Mail. Retrieved 2023-03-28.
- Kiner, Deb (2020-11-04). "Pet Valu announces it is going out of business in U.S. because of COVID-19, closing 358 stores". pennlive. Retrieved 2023-04-07.
- Bomey, Nathan. "Pet Valu retailer to liquidate US operations with 358 store closings, warehouse shut downs". USA TODAY. Retrieved 2023-04-07.
- "Pet Valu closing all US stores due to COVID-19 impacts | 2020-11-06 | Pet Food Processing". Pet Food Processing. Retrieved 2023-04-07.
- "Pet Valu offers rosy outlook as it grows market share in lucrative pet industry". The Globe and Mail. 2021-07-07. Retrieved 2023-03-28.