Petco Future: Owners Consider Possible Sale or Public Offering

A sale or public offering could be in the offing for Petco Animal Supplies Inc.

The company’s owners are “interviewing potential advisers while reviewing strategic options,” Bloomberg reports. The news service cited unnamed “people with knowledge of the matter.”

Official efforts toward either of the possibilities would not begin until 2021, according to the report.

And it’s possible the owners — CVC Capital Partners and Canada Pension Plan Investment Board — will instead hang on to the retailer. They bought Petco in 2016 for $4.6 billion.

Petco operates over 1,500 stores across the U.S. and Mexico. It has faced increasing competition from online retailers such as Amazon and Chewy.

Read more at Bloomberg