Petco owners reportedly weighing $6 billion sale or IPO

CVC Capital Partners and Canada Pension Plan Investment Board are exploring a sale or initial public offering of Petco that could value it at $6 billion, including debt, Bloomberg News reported Wednesday.

The firms 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.

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 and Leonard Green and Partners.

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