As Petco has just started exploring its strategic options, it hasn’t yet set an IPO date. The company previously explored an IPO or merger with Petsmart in 2015. It even filed public listing documents with the SEC, but abandoned the plan just before it could set an IPO date or price its stock.
If it chooses to go public again, Petco could begin the IPO process next year. Petco’s owners have held it for four years. Private-equity firms often hold investments for three to five years before they cash out either through a sale or IPO.
If Petco chooses the IPO route, it won’t be the first time. The company first went public in 1994, but private-equity firms TPG and Leonard Green took Petco private in 2000 in a $600 million deal. Petco then went public again in 2002, only for TPG and Leonard Green to come for it again, taking it private in 2006 in a deal valued at $1.7 billion. They held the business for some time and later sold it to CVC and CPPIB for $4.6 billion in 2016. Therefore, if Petco goes public again, it would be its third time.
View more information: https://marketrealist.com/p/petco-going-public-again/