Baird's Investment Banking Group is pleased to announce the following transaction:

January 2021
Petco Health and Wellness Company, Inc.
Initial Public Offering
Baird served as a co-manager on this offering
$993.600 Million

Petco Health and Wellness Company, Inc. (“Petco” or the “Company”) (NASDAQ: WOOF), a portfolio company of CVC Capital Partners and Canada Pension Plan Investment Board, recently completed an initial public offering of 55,200,000 common shares at a price of $18.00 per share. The offering generated gross proceeds of $993.6 million, inclusive of the underwriters exercised option to purchase up to 7,200,000 common shares. The Company intends to use the net proceeds from this offering to repay outstanding borrowings as well as for general corporate purposes.

Petco is a beloved brand in the United States pet care industry with more than 55 years of service to pets and pet owners. Since the Company’s founding in 1965, they have been trailblazing new standards in pet care, delivering comprehensive wellness solutions through products and services. Over the last three years, the Company has transformed the business from a successful traditional retailer to a disruptive, digital focused provider of pet health and wellness offerings. The Company’s product offering leverages owned brand portfolio and partnerships with premium third-party brands to deliver high-quality food that avoids artificial ingredients, complemented by a wide variety of premium pet care supplies. Petco also offers a broad suite of professional services, including grooming as well as in-store and online training. Petco’s service offerings are further enhanced by a rapidly expanding, affordable veterinary service platform, which includes full-service, outpatient veterinary care service locations, Vetco clinics and tele-veterinarian services.

For additional information about this transaction, please contact:

Chris Sciortino +1-312-609-4923
Sandy Walter +1-414-298-5118
Chris Coetzee +1-312-609-4913
Tom Lacy +1-414-298-7648
Peter Kies +1-414-765-7262
Robert Foster +44-20-7667-8309