Roark Capital-backed Pet Valu unveils secondary bought deal offering

CIBC Capital Markets, Barclays and RBC Capital Markets are the underwriters.

  • According to the deal’s terms, the underwriters agree to buy 4.02 million shares of Pet Valu at C$37.40 per share
  • The company was taken private in 2009 by Roark Capital for about C$144 million
  • In June 2021, Pet Valu closed its IPO, raising more than C$316 million

Pet Valu Holdings, a Markham, Ontario-based retailer of pet food and pet-related supplies, has launched C$150 million secondary bought deal offering for selling shareholders, including US private equity firm Roark Capital Group.

CIBC Capital Markets, Barclays and RBC Capital Markets are the underwriters.
According to deal’s terms, the underwriters agree to buy 4.02 million shares of Pet Valu at C$37.40 per share.

The offering is expected to close on or about November 17, 2022.

Pet Valu has more than 700 corporate-owned or franchised locations across Canada. Its stores offer over 7,000 products, including a wide assortment of brands.

Pet Valu was taken private in 2009 by Roark Capital Group for about C$144 million. In June 2021, the company closed its initial public offering on the Toronto Stock Exchange, raising more than C$316 million, as previously reported by PE Hub.