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A Possible Turnaround at Petco? – Insider Weekends

  • June 2, 2024

Petco Health and Wellness Co Inc. (WOOF): $3.86

Market Cap: $1.05B

Enterprise Value: $3.94B

Originally a mail-order veterinary supply company founded in 1965, Petco (WOOF) grew to become one of the largest pet supplies, food, and other products retailers. The company operates over 1,500 Petco stores across the United States, Mexico, and Puerto Rico, and some stores also sell small animals, fish, and have built-in animal care facilities/pet hospitals. As of February 3, 2024, Petco had 288 full-service veterinary hospitals and operated 1,400 Vetco mobile clinics on a weekly basis.

Looking at recent stock performance, it is clear that Petco has suffered – the stock is down by around 50% in the last year, and has lost around 86% since going public in 2021. The company has actually been taken private and public quite a few times by different groups and entities, and was last sold to the PE firm CVC Capital Partners and the Canada Pension Plan Investment Board in 2016. Both groups still retain control of Petco, even after the company’s third IPO in January 2021. 

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