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Stockholders today approved the acquisition of Petco Animal Supplies by private equity investment firms Texas Pacific Group and Leonard Green & Partners for $29 per share.

The $1.8 billion deal, including the assumption of $120 million in debt, is expected to close this week.

The two investment firms had previously taken Petco private in 2000 and then public in 2002, eventually earning a 600 percent profit on the deal when they finally cashed out completely in 2004.

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Shareholders Approve Petco Acquisition
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Reader Comments
Being an employee of PETCO for 5 years, I hope some good changes are in the works. We are a great company and we have a wide range of knowledge in our stores and I think the company should ask for opinions from its employees. Find out how districts are making the stores in the area grow and expand with the customer base they have. What are they doing to keep customers comming back happy.
cindy, ft myers, FL
Posted: 5/13/2009 4:55:07 PM
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