Canadian retailer Pet Valu goes public
The retailer from Ontaria with 600 locations, Pet Valu Holdings, has priced its initial public offering on the Toronto Stock Exchange.
The IPO is expected to generate gross proceeds of about C$275 million (€186m or 220m USD). Pet Valu was taken private in 2019 by Roark Capital Group for about C$144 million (€97m or USD 116m).
Pet Valu was founded in 1976 and has grown to more than 600 locations across Canada, including corporate and franchise-owned stores. In its filing, the company said they see an opportunity to grow to 1,200 locations over the next 15 to 20 years.
According to its prospectus, the company reported $648 million in revenue in 2020, a 12.8% increase compared to the year before.
The number of common shares to be sold and the price per common share have not yet been determined.