Pet Valu expands business to Québec
The pet specialty retailer enters the Canadian eastern province with the takeover of Chico and its more than 60 franchised locations across the territory.
This acquisition is a “key milestone” in the company’s mission to be the market leader nationwide.
“The acquisition of Chico is an excellent strategic fit for both companies, as we welcome a great brand with a terrific group of franchisees and loyal customers to the Pet Valu family, with the opportunity to benefit from our scale, infrastructure and franchisee support,” said Pet Valu President and CEO Richard Maltsbarger.
Founder and President of Chico Pierre Charbonneau added that Pet Valu is “the ideal partner” to support the brand’s continued growth across the province.
Similar to the Ontario-based retailer, Chico’s stores provide engaging retail experiences, with a focus on expert advice and premium quality products, all within local, small-format locations averaging 3,000 square feet.
Pet Valu will operate Chico – founded in 1983 – as a separate subsidiary led by a dedicated Montréal-based management team, with founders Pierre Charbonneau and Michel Joly continuing to be active in the business. It also plans to preserve Chico’s visual identity in Québec.
Chico posted sales of approximately $79 million (€72.4M) and revenue of roughly $7 million (€6.4M) in 2021.