Petco explores sale as well as IPO: WSJ/Bloomberg

Petco, which is owned by TPG and Leonard Green & Partners, is exploring a sale along with its plans to go public. The San Diego-based pet supplies retailer plans to meet with potential buyers, including Carlyle and KKR, next week, the Wall Street Journal reported.

In addition to Carlyle and KKR, Petco may also attract interest from other private equity firms, Bloomberg News said. Petco could be valued at about $3 billion, the story said.

The news comes on the heels of Petco filing for its third IPO last month. The company, which was founded in 1965, first went public in 1994 before being acquired by TPG and Leonard Green in a 2000 take-private acquisition for $600 million. In 2002, TPG and Leonard sold most of the company in a public offering. Four years later, the private equity firms took Petco private again for $1.8 billion.

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