 | |
| Company type | Public |
|---|---|
| TSX: PET | |
| Industry | Pet Retail |
| Founded | 1976 |
| Founder | Geoffrey Holt |
| Headquarters | Markham, Ontario , Canada |
Number of locations | 824 (2024) |
Area served | Canada |
Key people | Richard Maltsbarger (CEO) |
| Products | Pet food, supplies, accessories |
| Revenue | $1,097.2 million (2024) |
| $155.3 million (2024) | |
| $87.4 million (2024) | |
Number of employees | ~2,100 (2024) |
| Website | petvalu |
Pet Valu Holdings Ltd. is a Canadian pet food and accessory retailer founded in 1976. [1]
Contents
The company's first initial public offering occurred in 2009 when Roark Capital Group took over the company for an estimated $144 million. [1]
In 2010, Pet Valu acquired Bosley's Pet Foods Plus Inc., a Vancouver-based pet supply store chain. This acquisition gave Pet Valu a foothold in Western Canada. Previously, Pet Valu had been based almost entirely in Ontario and Manitoba. [2]
Bosley's stores were subsequently rebranded to "Bosley's by Pet Valu". [3]
Pet Valu's stores, franchises and subsidiaries generated $574 million in 2019 and $648 million in 2020. [1]
Richard Maltsbarger became its CEO in 2018. At the time, Roark Capital owned all of the company. However, when it completed its $316-million initial public offering on the Toronto Stock Exchange, Roark Capital sold some of its shares but retained sixty-two per cent. [4]
RBC, Barclays Capital Canada, and CIBC World Markets underwrote the IPO. [1]
As of 2024, Roark’s beneficial ownership is 39.2%. [5]
In November 2020, the company announced that it would close all its stores located in the United States. [6] [7] [8]
At the end of 2021, the organization had 633 corporate and owned stores and franchises in Canada. [4]
In 2022, Pet Valu acquired Quebec chain Chico's 66 stores. [4]
According to Maltsbarger, the company owns 225 out of its 744 stores, while the remaining stores are franchised to local owner-operators. [9]