Petco Health & Wellness

active

Retail — CVC Capital / CPPIB

Deal Terms

Entry Year2016

Entry EV$4.6B

Entry Multiple9x

Leverage6x

Debt Amount$2.76B

Risk Metrics

LTV (est.)60%

Debt / EV0.60x

Notes

CVC/CPPIB $4.6B LBO (2016). Third PE buyout (Leonard Green 2006, TPG/Leonard Green 2010, CVC/CPPIB 2016). IPO'd Jan 2021 at $4.4B. Stock crashed 75% from peak. $2.76B debt. Vet clinics + DTC pet food pushing against Amazon/Chewy. Serial PE flip pet retailer.

Sponsor

CPP Investments$632B AUM