In This Issue
HOWND products now available at Pets At Home
Pets at Home commits to paying young workers the national living wage as it posts a rise in first-half profits
Secrets of an award-winning sales rep
Natures Menu's ambitious export plan pays dividends
Major pet companies book their stands at PATS Sandown
Sourcing innovative products pays off for AmPet
PIF hails its ‘Meet the Buyers’ event as a great success
Santa Paws provides festive fun for Tamworth pets
Six 'miracle' pets up for national prize
Kinder Cat Litter launched to independent retailer market
Formula One giant set to buy American firm Petco
How to compile a professional CV, from a recruitment expert
Cornwall charity to build new home for abused marmosets
Specialist pet food firm goes quackers
The hippest celebration at London Vet Show
Accapi secure new appointment for outdoor market
China to build world’s biggest ‘cloning factory’ to mass-produce pet dogs
Allowing pets in bedroom at night is good for sleep
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Formula One giant set to buy American firm Petco

CVC, the private equity giant that owns Formula One, has agreed a deal with Canada Pension Plan Investment Board (CPPIB) to buy US pet supplies retailer Petco for $4.6bn (£3.04bn).

CVC will jointly aquire the company, which is the second largest petcare supplier in the US, from a group of investors led by TPG and Leonard Green & Partners.

An earlier merger bid from US market leader PetSmart stalled last month thanks to competition and antitrust concerns.

James Myers, Petco’s chief executive, said: "As the North American pet industry continues to grow, Petco is well positioned with a strong brand, differentiated engagement model, and omnichannel strategy.

"Both CVC and CPPIB have outstanding track records and deep retail experience and resources that will help support our growth initiatives."

The deal is expected to close early next year.

“Petco is clearly a leader in the industry, with strong further growth potential and a talented leadership team,” said Chris Stadler, CVC managing partner. “The pet category is a growing and dynamic space within which we believe Petco is ideally positioned to enhance its leadership position.”

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