Pet Valu

Pet Valu Holdings Ltd.
Pet Valu store in North Bay, Ontario
Company typePublic
Traded as
TSX: PET
IndustryPet retail
Founded1976; 48 years ago (1976)
Headquarters
Markham, Ontario
,
Canada
Key people
Richard Maltsbarger (CEO)
ProductsPet food, accessories
Revenue$648 million (2020)
OwnerRoark Capital Group
Websitepetvalu.ca

Pet Valu Holdings Ltd. is a Canadian pet food and accessory retailer founded in 1976.[1]

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

  • "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

  1. ^ 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.
  2. ^ 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.
  3. ^ 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.
  4. ^ Bomey, Nathan. "Pet Valu retailer to liquidate US operations with 358 store closings, warehouse shut downs". USA TODAY. Retrieved 2023-04-07.
  5. ^ "Pet Valu closing all US stores due to COVID-19 impacts | 2020-11-06 | Pet Food Processing". Pet Food Processing. Retrieved 2023-04-07.
  6. ^ "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.
  • Official website