SWFI First Read, November 24, 2015

Leonard Green Makes Profit on Petco Sale

Following an earlier reported story on this. The deal is signed. San Diego-based Petco Animal Supplies, Inc., a specialty retailer of premium pet food, supplies and services, announced that funds affiliated with CVC Capital Partners and Canada Pension Plan Investment Board have entered into a definitive agreement to jointly acquire the Company from a group of investors led by TPG and Leonard Green & Partners for approximately US $4.6 billion. The acquisition is expected to close in early 2016. Goldman Sachs and J.P. Morgan Securities are acting as financial advisors to Petco. Ropes & Gray acted as legal counsel to Petco. Barclays, Citigroup and Moelis acted as lead financial advisors to CVC and CPPIB. Barclays, Citigroup, Royal Bank of Canada, Credit Suisse, Nomura and Macquarie provided committed debt financing to CVC and CPPIB. Gibson Dunn acted as legal counsel to CVC and CPPIB. CPPIB was also separately advised by Torys LLP. The acquisition is subject to customary closing conditions.

Jim Christensen Rejoins QIC

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