CVC Capital Partners and Canada Pension Plan Investment Board (CPPIB) are exploring a sale or initial public offering of Petco Animal Supplies Inc that could value it at $6 billion, including debt, Bloomberg News reported on Wednesday.
CVC and CPPIB are interviewing potential advisers while reviewing strategic options, with formal efforts around a sale or IPO not expected to kick off until next year, Bloomberg said, citing people with knowledge of the matter. (bloom.bg/32bvHhe)
CVC, CPPIB and Petco declined to comment on the report.
CVC and CPPIB acquired the pet supplies retailer in 2016 for about $4.6 billion from TPG Capital LP and Leonard Green and Partners LP.