Devine of Toys "R" Us was hired to turn the company around as president and CEO. īy 1990 Petco was heavily in debt, and Brian K. Lee Company, and subsequently began acquiring other pet stores. The same year, Petco was acquired by two private-equity firms, The Spectrum Group, Inc. By 1988, the company had 40 Petco stores, mainly in California. and The Pet Department, bringing its store number to 130. In 1988 Petco acquired two other West Coast chains, Wellpet, Inc. To compete with supermarkets, Petco focused on premium pet-food brands such as IAMS, Science Diet, and Nutro, which were introduced in the mid-1980s.
In 1979 the company was rebranded Petco, and the first Petco store opened in Tigard, Oregon a year later. Evans opened his first retail store in 1976 in La Mesa, California, selling pet and veterinary supplies. In San Diego County in 1965, Evans initially set up a mail-order veterinary supply business with five associates. Petco originated when Walter Evans, a co-owner of a Missouri-based distributor of pet supplies and products called United Pharmacal Company (UPCO), moved to San Diego County, California. Petco had yearly revenues of $4.1 billion in 2020, and was the 107th largest private company in the United States. The company owns the naming rights to the Petco Park baseball stadium, which is home of the San Diego Padres. The company also owns the PetCoach app,, and Vital Care, a subscription service for veterinary care. Unleashed by Petco are smaller stores that do not sell live animals. Some stores offer services such as obedience training, dog grooming, pet vaccinations, and veterinary care, while also hosting adoption events. Stores sell pet food, pet supplies, small animals, and fish. In 2016 Petco was sold to CVC Capital Partners and the Canada Pension Plan Investment Board, who retained control when Petco held its third IPO in January 2021.Īs of 2021, the company has approximately 1,500 Petco stores across the United States, Mexico, and Puerto Rico. It was subsequently bought by Leonard Green & Partners and Texas Pacific Group in 2000. Lee Company in 1988, it went public on the NASDAQ in 1994. Petco sells pet food, products, and services, as well as certain types of live small animals.įounded in 1965 as a mail-order veterinary supply company in California, it grew into a pet food and supplies chain. is an American pet retailer with corporate offices in San Diego and San Antonio.
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