Pet Valu Holdings Ltd. is a Canadian pet food and accessory retailer founded in 1976.[1]
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 | |
| Company type | Public |
|---|---|
| TSX: PET | |
| Industry | Pet retail |
| Founded | 1976 |
| Headquarters | Markham, Ontario , Canada |
Key people | Richard Maltsbarger (CEO) |
| Products | Pet food, accessories |
| Revenue | $648 million (2020) |
| Owner | Roark Capital Group |
| Website | petvalu |
The company's first initial public offering occurred in 2009 when Roark Capital Group took over the company for an estimated $144 million.[1]
Its stores, franchises and subsidiaries generated $574 million in 2019 and $648 million in 2020.[1]
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.[2]
RBC, Barclays Capital Canada, and CIBC World Markets underwrote the IPO.[1]
In November 2020, the company announced that it would close all its stores located in the United States.[3][4][5]
At the end of 2021, the organization had 633 corporate and owned stores and franchises in Canada.[2]
In 2022, Pet Valu acquired Quebec chain Chico's 66 stores.[2]
According to Maltsbarger, the company owns 225 out of its 744 stores, while the remaining stores are franchised to local owner-operators.[6]
Sources
edit- "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
edit- ^ a b c d 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.
- ^ a b c 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.