Petco in Talks for Private Sale, Despite IPO Filing
September 04, 2015
Petco, which recently filed for an IPO, is potentially examining a PE sale in place of a public offering. Currently backed by TPG, Leonard Green & Partners and Freeman Spogli & Co., the company is reportedly set to meet with PE giants Carlyle Group and KKR next week. If a sale were to take place, the provider of pet foods, supplies and services could be valued at around $4 billion, according to reports stemming from the financial statements in the company's S-1 filing. In 2014, Petco generated net income of over $75 million on net sales of $4 billion; it reported adjusted EBITDA of $457 million during that same period.