14 June 2000

Petco Management Buy-Out Announced

The american pet superstore giant, Petco which announced the opening of its 500th store at the end of March as part of a strategic expansion across the States, has been purchased by investment firms Leonard Green & Partners LP and Texas Pacific Group for $464m. Chairman Brian Devine said that the buy out decision had had to be taken because the company's stock was depressed. The existing management team will remain in place. Whilst Petco's focus is selling food and pet accessories their stores do still carry on a decreasing trade in livestock. Visit Petco's online presence at : http://www.petco.com