A report from February 2015 said PetSmart and Petco account for 20% of all pet product sales in the US, according to market research publisher Packaged Facts. The two pet retail stores had combined sales of about US$11 billion based on Packaged Facts' estimates, with sales of natural pet products an important factor in the strong performances.
Petco has been in the news lately, as a deal was reached this week for Petco Holdings Inc. to be acquired by CVC Capital Partners Ltd. and the Canada Pension Plan Investment Board (CPPIB) in a US$4.6 billion deal.
The deal came after Petco rival PetSmart in September began exploring the possibility of acquiring Petco. But, in October, merger talks between the two companies stalled because of disagreements over antitrust risks.
In August 2015, Petco filed for an initial public offering of stock that could have valued it at US$5 billion to US$6 billion, including debt. And, in early October, the company said it would go public again after nine years of private ownership. But, later, Petco’s private equity owners decided to sell the company instead of following through on the IPO.
As for the success of Petco and PetSmart, 'Although PetSmart is public and Petco privately held, the two companies share a number of similarities. This ranges from their pet parent pitch, to their focus on national brands and private labels alike, to their emphasis on higher-margin products and services, to their leading e-commerce websites,' says David Sprinkle, Packaged Facts research director. 'For both chains, factoring strongly among those higher-margin products are natural products.'
For PetSmart and Petco, natural products are a major thrust, with Petco fielding its 'store-within-store' It's All Natural departments, and PetSmart — which in December 2014 agreed to be acquired for more than $8 billion by a group led by BC Partners Inc. — calling itself 'the most trusted source for natural pet solutions.' Both chains feature a wide array of natural brands, with category leaders including Nutro, Blue Buffalo, WellPet, Natural Balance, Merrick and Natura.
Showing posts with label petco. Show all posts
Showing posts with label petco. Show all posts
Monday, December 7, 2015
Wednesday, December 2, 2015
Petco to be acquired in US$4.6 billion deal
A deal has been reached for Petco Holdings Inc. to be acquired by CVC Capital Partners Ltd. and the Canada Pension Plan Investment Board (CPPIB) in a US$4.6 billion deal, sources say.
In October 2015, merger talks between rivals PetSmart Inc. and Petco stalled because of disagreements over antitrust risks. And, last week, two groups of private equity-led bidders were reported to be gearing up to bid more than US$4 billion each for Petco. The other private equity group was with KKR & Co. and Hellman & Friedman.
In August 2015, Petco filed for an initial public offering of stock that could have valued it at US$5 billion to US$6 billion, including debt. And, in early October, the company said it would go public again after nine years of private ownership. But, later, Petco’s private equity owners decided to sell the company instead of following through on the IPO.
In late 2014, PetSmart Inc. was bought by a private equity consortium led by BC Partners Ltd. for US$8.7 billion.
According to sources, CVC and CPPIB have secured more than US$3 billion in debt financing for the acquisition. Barclays, Citigroup, Royal Bank of Canada, Credit Suisse, Nomura and Macquarie have provided committed debt financing to CVC and CPPIB, the companies have said.
In October 2015, merger talks between rivals PetSmart Inc. and Petco stalled because of disagreements over antitrust risks. And, last week, two groups of private equity-led bidders were reported to be gearing up to bid more than US$4 billion each for Petco. The other private equity group was with KKR & Co. and Hellman & Friedman.
In August 2015, Petco filed for an initial public offering of stock that could have valued it at US$5 billion to US$6 billion, including debt. And, in early October, the company said it would go public again after nine years of private ownership. But, later, Petco’s private equity owners decided to sell the company instead of following through on the IPO.
In late 2014, PetSmart Inc. was bought by a private equity consortium led by BC Partners Ltd. for US$8.7 billion.
According to sources, CVC and CPPIB have secured more than US$3 billion in debt financing for the acquisition. Barclays, Citigroup, Royal Bank of Canada, Credit Suisse, Nomura and Macquarie have provided committed debt financing to CVC and CPPIB, the companies have said.
Tuesday, November 24, 2015
Two bidders expected to make offers to buy Petco
Two groups of private equity-led bidders are expected to each bid more than US$4 billion for Petco Holdings, according to reports.
One of the groups is with KKR & Co. and Hellman & Friedman, and the other is with CVC Capital Partners and the Canada Pension Plan Investment Board. Reports say Apollo Global Management by itself is also among the bidders. Binding offers are due November 25, 2015.
In August 2015, Petco filed for an initial public offering of stock that could value it at US$5 billion to US$6 billion, including debt. And, in early October, the company said it would go public again after nine years of private ownership. But now, Petco’s private equity owners are expected to sell the company instead of following through on the IPO.
In late 2014, Petco rival PetSmart Inc. was bought by a private equity consortium led by BC Partners Ltd. for US$8.7 billion.
In September 2015, PetSmart said it was exploring the possibility of acquiring Petco. But, in October 2015, merger talks between the two companies were reported to have stalled because of disagreements over antitrust risks. The two companies also explored a merger possibility in 2014, but PetSmart ruled out a deal with Petco in favor of the buyout by BC Partners.
One of the groups is with KKR & Co. and Hellman & Friedman, and the other is with CVC Capital Partners and the Canada Pension Plan Investment Board. Reports say Apollo Global Management by itself is also among the bidders. Binding offers are due November 25, 2015.
In August 2015, Petco filed for an initial public offering of stock that could value it at US$5 billion to US$6 billion, including debt. And, in early October, the company said it would go public again after nine years of private ownership. But now, Petco’s private equity owners are expected to sell the company instead of following through on the IPO.
In late 2014, Petco rival PetSmart Inc. was bought by a private equity consortium led by BC Partners Ltd. for US$8.7 billion.
In September 2015, PetSmart said it was exploring the possibility of acquiring Petco. But, in October 2015, merger talks between the two companies were reported to have stalled because of disagreements over antitrust risks. The two companies also explored a merger possibility in 2014, but PetSmart ruled out a deal with Petco in favor of the buyout by BC Partners.
Friday, October 23, 2015
PetSmart-Petco merger talks stall over antitrust risk
Merger talks between PetSmart Inc. and Petco Holdings Inc. have stalled because of disagreements over antitrust risks, according to a report.
The risks for a deal hinge on how the Federal Trade Commission would define the pet supply market, reports say. A narrow definition that includes only specialty pet supply stores would make it more difficult to get a deal approved. A broader definition that includes any retailer that sells pet supplies would make the deal easier to approve.
In September, PetSmart said it was exploring the possibility of acquiring Petco.
The two companies also explored a merger possibility in 2014, but PetSmart ruled out a deal with Petco in favor of a buyout by private equity consortium led by BC Partners Ltd. for US$8.7 billion. At the time, PetSmart was unsure a deal with Petco would receive antitrust clearance.
In August 2015, Petco filed for an initial public offering of stock that could value it at US$5 billion to US$6 billion, including debt. And, in early October, the company confirmed it would go public again after nine years of private ownership.
The company has filed an amended S-1 form with the US Securities and Exchange Commission, but no terms were given in the filing.
Proceeds from the offering will go to the selling stockholders instead of the company. The private equity firms that own it and other investors will retain majority voting power after the initial public offering.
The risks for a deal hinge on how the Federal Trade Commission would define the pet supply market, reports say. A narrow definition that includes only specialty pet supply stores would make it more difficult to get a deal approved. A broader definition that includes any retailer that sells pet supplies would make the deal easier to approve.
In September, PetSmart said it was exploring the possibility of acquiring Petco.
The two companies also explored a merger possibility in 2014, but PetSmart ruled out a deal with Petco in favor of a buyout by private equity consortium led by BC Partners Ltd. for US$8.7 billion. At the time, PetSmart was unsure a deal with Petco would receive antitrust clearance.
In August 2015, Petco filed for an initial public offering of stock that could value it at US$5 billion to US$6 billion, including debt. And, in early October, the company confirmed it would go public again after nine years of private ownership.
The company has filed an amended S-1 form with the US Securities and Exchange Commission, but no terms were given in the filing.
Proceeds from the offering will go to the selling stockholders instead of the company. The private equity firms that own it and other investors will retain majority voting power after the initial public offering.
Wednesday, October 7, 2015
Petco will go public once again
The company has filed an amended S-1 form with the US Securities and Exchange Commission, but no terms were given in the filing. Petco has not said what exchange it will file on or what its symbol will be.
Proceeds from the offering will go to the selling stockholders instead of the company. The private equity firms that own it and other investors will retain majority voting power after the initial public offering.
In September, PetSmart said it was exploring the possibility of acquiring Petco Holdings Inc.
The two companies explored a merger possibility in 2014, but PetSmart ruled out a deal with Petco in 2014 in favor of a buyout by private equity consortium led by BC Partners Ltd. for US$8.7 billion. At the time, PetSmart was unsure a deal with Petco would receive antitrust clearance.
If PetSmart and Petco merged, the new company would account for 30% of US pet specialty supplies stores, reports say.
PetSmart and Petco account for 20% of all pet product sales in the US, according to market research publisher Packaged Facts. The two pet retail stores had combined sales of about US$11 billion in 2014 based on Packaged Facts' estimates, with sales of natural pet products an important factor in the strong performances.
Proceeds from the offering will go to the selling stockholders instead of the company. The private equity firms that own it and other investors will retain majority voting power after the initial public offering.
In September, PetSmart said it was exploring the possibility of acquiring Petco Holdings Inc.
The two companies explored a merger possibility in 2014, but PetSmart ruled out a deal with Petco in 2014 in favor of a buyout by private equity consortium led by BC Partners Ltd. for US$8.7 billion. At the time, PetSmart was unsure a deal with Petco would receive antitrust clearance.
If PetSmart and Petco merged, the new company would account for 30% of US pet specialty supplies stores, reports say.
PetSmart and Petco account for 20% of all pet product sales in the US, according to market research publisher Packaged Facts. The two pet retail stores had combined sales of about US$11 billion in 2014 based on Packaged Facts' estimates, with sales of natural pet products an important factor in the strong performances.
Wednesday, September 23, 2015
PetSmart, Petco eyeing merger possibility?
PetSmart Inc. is exploring the possibility of acquiring Petco Holdings Inc., according to reports.
The two companies explored a merger possibility in 2014, but PetSmart ruled out a deal with Petco in 2014 in favor of a buyout by private equity consortium led by BC Partners Ltd. for US$8.7 billion. At the time, PetSmart was unsure a deal with Petco would receive antitrust clearance.
If PetSmart and Petco merged, the new company would account for 30% of US pet specialty supplies stores, reports say.
PetSmart and Petco account for 20% of all pet product sales in the US, according to market research publisher Packaged Facts. The two pet retail stores had combined sales of about US$11 billion in 2014 based on Packaged Facts' estimates, with sales of natural pet products an important factor in the strong performances.
In August 2015, Petco filed for an initial public offering of stock that could value it at US$5 billion to US$6 billion, including debt.
The two companies explored a merger possibility in 2014, but PetSmart ruled out a deal with Petco in 2014 in favor of a buyout by private equity consortium led by BC Partners Ltd. for US$8.7 billion. At the time, PetSmart was unsure a deal with Petco would receive antitrust clearance.
If PetSmart and Petco merged, the new company would account for 30% of US pet specialty supplies stores, reports say.
PetSmart and Petco account for 20% of all pet product sales in the US, according to market research publisher Packaged Facts. The two pet retail stores had combined sales of about US$11 billion in 2014 based on Packaged Facts' estimates, with sales of natural pet products an important factor in the strong performances.
In August 2015, Petco filed for an initial public offering of stock that could value it at US$5 billion to US$6 billion, including debt.
Friday, August 28, 2015
Petco files for initial public offering
Petco Holdings Inc. has filed for an initial public offering of stock. The company indicated it would seek to raise US$100 million, which is likely a placeholder amount that will change.
Petco is coming to the end of a standard hold period by its private backers, Leonard Green & Partners and Texas Pacific Group, which have held it since 2006 when they bought it for US$1.7 billion.
Leonard Green & Partners holds about 38% of the company’s equity, while Texas Pacific Group holds about 47%.
Terms of the offering were not provided, but Petco said proceeds would go to selling shareholders.
The funds raised from the IPO will finance its growth and strengthen its market position.
Petco operates more than 1,400 stores in the United States, Mexico and Puerto Rico. According to the filing with the Securities and Exchange Commission, Petco had a profit of US$75.3 million on sales of US$4 billion in its 2014 fiscal year, compared with profits of US$84.8 million and sales of US$3.79 billion the previous year.
According to a recent study by Packaged Facts, Petco and its rival PetSmart together account for 20% of all pet product sales in the US. The two pet retail stores had combined sales of about US$11 billion based on Packaged Facts' estimates, with sales of natural pet products an important factor in the strong performances.
Petco is coming to the end of a standard hold period by its private backers, Leonard Green & Partners and Texas Pacific Group, which have held it since 2006 when they bought it for US$1.7 billion.
Leonard Green & Partners holds about 38% of the company’s equity, while Texas Pacific Group holds about 47%.
Terms of the offering were not provided, but Petco said proceeds would go to selling shareholders.
The funds raised from the IPO will finance its growth and strengthen its market position.
Petco operates more than 1,400 stores in the United States, Mexico and Puerto Rico. According to the filing with the Securities and Exchange Commission, Petco had a profit of US$75.3 million on sales of US$4 billion in its 2014 fiscal year, compared with profits of US$84.8 million and sales of US$3.79 billion the previous year.
According to a recent study by Packaged Facts, Petco and its rival PetSmart together account for 20% of all pet product sales in the US. The two pet retail stores had combined sales of about US$11 billion based on Packaged Facts' estimates, with sales of natural pet products an important factor in the strong performances.
Wednesday, July 29, 2015
Petco to donate $25,000 to Coral Restoration Foundation
Petco will donate US$25,000 to Coral Restoration Foundation (CRF) to support its work to restore critically endangered coral reefs. The donation will help to protect and restore coral reefs throughout the Florida Keys.
“We know Petco is committed to building a better world for people and pets, and we’re proud to be a new recipient of the company’s support,” said Martha Roesler, chief development officer for CRF. “This generous donation will help our efforts to restore reefs that provide habitat for 25% of our planet’s aquatic life.”
Petco is an advocate for reef conservation and reef and marine life aquaculture initiatives. Today, most of the company’s freshwater fish and all of its marine corals are aquacultured, meaning they are captive-bred and not taken from the ocean’s reefs.
“At Petco, we’re committed to responsible marine life practices and we’re proud to support the Coral Restoration Foundation,” said Marcie Whichard, Petco’s vice president of industry and public affairs. “We applaud the work CRF is doing to safeguard one of our planet's most precious resources -- our coral reefs.”
“We know Petco is committed to building a better world for people and pets, and we’re proud to be a new recipient of the company’s support,” said Martha Roesler, chief development officer for CRF. “This generous donation will help our efforts to restore reefs that provide habitat for 25% of our planet’s aquatic life.”
Petco is an advocate for reef conservation and reef and marine life aquaculture initiatives. Today, most of the company’s freshwater fish and all of its marine corals are aquacultured, meaning they are captive-bred and not taken from the ocean’s reefs.
“At Petco, we’re committed to responsible marine life practices and we’re proud to support the Coral Restoration Foundation,” said Marcie Whichard, Petco’s vice president of industry and public affairs. “We applaud the work CRF is doing to safeguard one of our planet's most precious resources -- our coral reefs.”
Monday, June 29, 2015
Petco launches on-demand delivery service
Petco has launched PetcoNow, the first on-demand delivery service in the pet specialty retail category. Powered by Instacart in a first-of-its-kind partnership, the service gives pet parents the ability to access all of the Petco quality pet products they need, delivered directly to their door in as little as one hour.
"In today's on-demand retail economy, customers expect to have the world at their fingertips," said Brad Weston, Petco executive vice president and chief merchandising officer. "PetcoNow represents an evolution in the way we're able to provide quality products and customer service to pet parents. Combining our 50-year heritage, expertise and retail footprint with strategic partnerships ensures we stay at the forefront of innovation in today's changing marketplace."
Available now in select markets, the service provides customers with a selection of approximately 13,000 Petco products – including all food (dry kibble, wet, fresh, frozen, freeze-dried), treats, toys and supplies for pets ranging from dogs and cats to fish and birds. Accessible through both an easy-to-use web portal and mobile app, PetcoNow serves US pet parents in Atlanta, Georgia; Austin, Texas; Boston, Massachusetts; Boulder, Colorado; Chicago, Illinois; Denver, Colorado; Houston, Texas; Los Angeles, California; Miami, Florida; Philadelphia, Pennsylvania; Portland, Oregon; San Francisco, California; Seattle, Washington; and Washington, D.C.
Additionally, Petco and Instacart are excited to announce expanded delivery zones in Miami and Chicago beginning June 23 and 30 respectively.
"In January, we introduced Petco as Instacart's first non-grocery retail partner, and we have continued to see growth," said Apoorva Mehta, founder and CEO of Instacart. "Through our partnership, Petco is able to offer customers the ease and convenience of on-demand delivery without the need to handle the logistics themselves. We're excited to expand this offering to pet owners and will be introducing additional markets later this year."
Friday, February 27, 2015
PetSmart, Petco account for 20% of all US pet product sales
PetSmart and Petco account for 20% of all pet product sales in the US, according to market research publisher Packaged Facts. The two pet retail stores had combined sales of about US$11 billion based on Packaged Facts' estimates, with sales of natural pet products an important factor in the strong performances.
"Although PetSmart is public and Petco privately held, the two companies share a number of similarities. This ranges from their pet parent pitch, to their focus on national brands and private labels alike, to their emphasis on higher-margin products and services, to their leading e-commerce websites," says David Sprinkle, Packaged Facts research director. "For both chains, factoring strongly among those higher-margin products are natural products."
Aside from superior customer service and a knowledgeable staff, an important differentiator for pet specialty retailers to separate them from lower-priced mass retailers is their focus on natural products, and an increase in all-natural private label brands. In Packaged Facts' April/May 2014 Pet Owner Survey, 39% of pet owners agreed that the natural products sold in the pet specialty channel are better than those sold at mass, up from 28% in a February/March 2013 survey.
For PetSmart and Petco, natural products are a major thrust, with Petco fielding its "store-within-store" It's All Natural departments, and PetSmart — which in December 2014 agreed to be acquired for more than $8 billion by a group led by BC Partners Inc. — calling itself "the most trusted source for natural pet solutions." Both chains feature a wide array of natural brands, with category leaders including Nutro, Blue Buffalo, WellPet, Natural Balance, Merrick and Natura.
Aside from superior customer service and a knowledgeable staff, an important differentiator for pet specialty retailers to separate them from lower-priced mass retailers is their focus on natural products, and an increase in all-natural private label brands. In Packaged Facts' April/May 2014 Pet Owner Survey, 39% of pet owners agreed that the natural products sold in the pet specialty channel are better than those sold at mass, up from 28% in a February/March 2013 survey.
For PetSmart and Petco, natural products are a major thrust, with Petco fielding its "store-within-store" It's All Natural departments, and PetSmart — which in December 2014 agreed to be acquired for more than $8 billion by a group led by BC Partners Inc. — calling itself "the most trusted source for natural pet solutions." Both chains feature a wide array of natural brands, with category leaders including Nutro, Blue Buffalo, WellPet, Natural Balance, Merrick and Natura.
Tuesday, February 24, 2015
Petco unveils new initiative centered on pet nutrition
Petco has announced a new initiative, centered on the importance of proper nutrition for pets. A creative campaign, "What We Feed Them Matters," rolls out nationwide this week. The multichannel initiative emphasizes to pet parents that great health starts with great nutrition.
Safety and health benefits of food and treats continue to be top concerns for pet owners, and recent survey findings indicate that approximately 100 million dogs and cats in U.S. are overweight or obese. Feeding pets high-quality food can ultimately lead to a longer, better life, greater vitality, better skin and coat, a healthy weight and good digestion.
"We want to encourage pet parents to think about the impact food and nutrition have on their pet's health," said Brad Weston, Petco chief merchandising officer. "At Petco, we handpick the best brands to make it easy for pet parents to navigate the complex world of nutrition and find the right food for their pet."
For nearly 50 years, Petco has been a source for high-quality premium pet products and services in local neighborhoods across the U.S., with knowledgeable Petco partners on hand to help. Petco handpicks the best brands to help pets thrive with a broad range of food and treat options that support complete pet health.
"The new creative builds on the success of the 'The Power of Together' campaign, our brand transformation initiative launched last year," said Danielle Mohn, Petco vice president of marketing. "We're celebrating the importance of the human-animal connection and educating pet parents that what we feed them really does matter."
Created by Vitro, in partnership with Petco's internal creative team, the creative is a purpose-driven initiative to inspire pet parents to think differently about pet nutrition and to drive awareness of Petco's handpicked selection.
The initiative will be featured in-store and online, with nutrition education front and center. In-store, consumers can discuss their pet's specific needs with a Petco nutrition adviser and learn about feeding trends and options as part of Petco's nutrition demo program. In addition, there are a variety of digital resources that can be found online, including information on how to read a petfood label and how to transition your pet to a new food, as well as details on the latest feeding options available to pet parents.
"We want to encourage pet parents to think about the impact food and nutrition have on their pet's health," said Brad Weston, Petco chief merchandising officer. "At Petco, we handpick the best brands to make it easy for pet parents to navigate the complex world of nutrition and find the right food for their pet."
For nearly 50 years, Petco has been a source for high-quality premium pet products and services in local neighborhoods across the U.S., with knowledgeable Petco partners on hand to help. Petco handpicks the best brands to help pets thrive with a broad range of food and treat options that support complete pet health.
"The new creative builds on the success of the 'The Power of Together' campaign, our brand transformation initiative launched last year," said Danielle Mohn, Petco vice president of marketing. "We're celebrating the importance of the human-animal connection and educating pet parents that what we feed them really does matter."
Created by Vitro, in partnership with Petco's internal creative team, the creative is a purpose-driven initiative to inspire pet parents to think differently about pet nutrition and to drive awareness of Petco's handpicked selection.
The initiative will be featured in-store and online, with nutrition education front and center. In-store, consumers can discuss their pet's specific needs with a Petco nutrition adviser and learn about feeding trends and options as part of Petco's nutrition demo program. In addition, there are a variety of digital resources that can be found online, including information on how to read a petfood label and how to transition your pet to a new food, as well as details on the latest feeding options available to pet parents.
Monday, December 8, 2014
Petco to acquire online pet product retailer Drs. Foster and Smith
Petco has entered into an agreement to acquire Drs. Foster and Smith, a veterinary-owned online pet supply company. The acquisition will unite one of the largest pet specialty retailers with one of the largest online pet retailers in the US.
"This move underscores our commitment to nurturing the complete health and well-being of animals and further allows Petco to meet the diverse and expansive needs of pet parents," said Jim Myers, Petco CEO. "As pet lovers first and foremost, our values are perfectly aligned with Drs. Foster and Smith, and we're confident this new addition to our business will help us continue to offer the very best in products and services to pets and pet parents." The acquisition will complement Petco's existing capabilities in pet health to include prescription services, including prescription diets, preventive care and a broad base of products created by licensed veterinarians.
"At our founding, our intent with Drs. Foster and Smith was to provide pet owners with veterinary advice and quality pet supplies at affordable prices," said Race Foster, DVM, co-founder of Drs. Foster and Smith. "We believe Petco shares those same values, and we look forward to building on our original mission." The acquisition includes both Drs. Foster & Smith's prescription services as well as its popular branded products, including joint care supplements, dog and cat foods, dog beds, cat furniture, horse supplies, equine equipment and other pet care essentials.
The transaction is expected to be completed by early 2015 and is subject to customary closing conditions, including receipt of regulatory approvals. The terms of the deal are not being disclosed.
"This move underscores our commitment to nurturing the complete health and well-being of animals and further allows Petco to meet the diverse and expansive needs of pet parents," said Jim Myers, Petco CEO. "As pet lovers first and foremost, our values are perfectly aligned with Drs. Foster and Smith, and we're confident this new addition to our business will help us continue to offer the very best in products and services to pets and pet parents." The acquisition will complement Petco's existing capabilities in pet health to include prescription services, including prescription diets, preventive care and a broad base of products created by licensed veterinarians.
"At our founding, our intent with Drs. Foster and Smith was to provide pet owners with veterinary advice and quality pet supplies at affordable prices," said Race Foster, DVM, co-founder of Drs. Foster and Smith. "We believe Petco shares those same values, and we look forward to building on our original mission." The acquisition includes both Drs. Foster & Smith's prescription services as well as its popular branded products, including joint care supplements, dog and cat foods, dog beds, cat furniture, horse supplies, equine equipment and other pet care essentials.
The transaction is expected to be completed by early 2015 and is subject to customary closing conditions, including receipt of regulatory approvals. The terms of the deal are not being disclosed.
Monday, April 28, 2014
Petco planning new corporate headquarters in California
- An open, inviting environment with very few closed-door offices to foster a collaborative work environment;
- Pet-friendly amenities, including pet play areas;
- Employee wellness facilities;
- Sustainable space highlighting progressive design features including work spaces positioned to take advantage of natural light and locally-sourced, earth-friendly building materials where possible.
Petco has acquired property at 10850 Via Frontera in Rancho Bernardo, San Diego, Calif., USA, with plans to develop a new state-of-the-art, people- and pet-friendly corporate support center. The new location would bring together hundreds of employees currently spread across a number of separate locations in San Diego, creating a central facility to help support Petco’s 1,300+ stores, according to the company.
At initial move in, the 300,000-square-foot facility will be home to more than 650 Petco partners who will relocate from existing support center facilities in the Miramar and Scripps Ranch areas. Interior construction and extensive remodeling of the existing site are anticipated to begin in the fall of 2014 and are currently slated to be complete in the fall of 2015. With the purchase and remodel of this facility, Petco said it hopes to invest substantially in creating an open and sustainable work environment focused on the long-term productivity, commitment and well-being of its employees and their pets.
Plans for the new site include:
At initial move in, the 300,000-square-foot facility will be home to more than 650 Petco partners who will relocate from existing support center facilities in the Miramar and Scripps Ranch areas. Interior construction and extensive remodeling of the existing site are anticipated to begin in the fall of 2014 and are currently slated to be complete in the fall of 2015. With the purchase and remodel of this facility, Petco said it hopes to invest substantially in creating an open and sustainable work environment focused on the long-term productivity, commitment and well-being of its employees and their pets.
Plans for the new site include:
Wednesday, April 2, 2014
Petco named 2014 world's most ethical company
Pet specialty retailer Petco has been recognized by the Ethisphere Institute, an independent center of research promoting best practices in corporate ethics and governance, as a 2014 World's Most Ethical Company.
This is the third time Petco has been honored with the award, which recognizes organizations that continue to raise the bar on ethical leadership and corporate behavior. World's Most Ethical Company honorees understand the correlation among ethics, reputation and daily interactions with their brand, and that the award belongs as much to their associates as it does to them. Petco is one of only five U.S. retailers honored this year.
"Doing the right thing for our customers, partners, animals and the communities we serve has always been a top priority for Petco," said CEO Jim Myers. "Ethics, integrity and social responsibility are critical factors in our ability to fulfill our vision for 'Healthier Pets. Happier People. Better World'. It's an honor to continue to receive this recognition."
The World's Most Ethical Company assessment is based upon the Ethisphere Institute's Ethics Quotient framework. The Ethics Quotient framework has been developed over years of effort to provide a means to assess an organization's performance in an objective, consistent and standardized way. The information collected provides a comprehensive sampling of definitive criteria of core competencies, rather than all aspects of corporate governance, risk, sustainability, compliance and ethics. The Ethics Quotient framework and methodology was determined, vetted and refined by the expert advice and insights gleaned from Ethisphere's network of thought leaders and from the World's Most Ethical Company Methodology Advisory Panel.
The full list of the 2014 World's Most Ethical Companies can be found at www.ethisphere.com/worlds-most-ethical/wme-honorees/.
This is the third time Petco has been honored with the award, which recognizes organizations that continue to raise the bar on ethical leadership and corporate behavior. World's Most Ethical Company honorees understand the correlation among ethics, reputation and daily interactions with their brand, and that the award belongs as much to their associates as it does to them. Petco is one of only five U.S. retailers honored this year.
"Doing the right thing for our customers, partners, animals and the communities we serve has always been a top priority for Petco," said CEO Jim Myers. "Ethics, integrity and social responsibility are critical factors in our ability to fulfill our vision for 'Healthier Pets. Happier People. Better World'. It's an honor to continue to receive this recognition."
The World's Most Ethical Company assessment is based upon the Ethisphere Institute's Ethics Quotient framework. The Ethics Quotient framework has been developed over years of effort to provide a means to assess an organization's performance in an objective, consistent and standardized way. The information collected provides a comprehensive sampling of definitive criteria of core competencies, rather than all aspects of corporate governance, risk, sustainability, compliance and ethics. The Ethics Quotient framework and methodology was determined, vetted and refined by the expert advice and insights gleaned from Ethisphere's network of thought leaders and from the World's Most Ethical Company Methodology Advisory Panel.
The full list of the 2014 World's Most Ethical Companies can be found at www.ethisphere.com/worlds-most-ethical/wme-honorees/.
Monday, February 17, 2014
Petco partners with Pet Industry Sustainability Coalition
The Pet Industry Sustainability Coalition (PISC) recently interviewed Jim Thomas, vice president sustainability, safety & environmental health at Petco, to discuss why sustainability is so important to the pet product retailer. Petco is the first retailer to join the PISC.
"At Petco we believe that reducing waste, using less energy and recycling materials saves money, is good for business and benefits the environment. Pet parents really care about the environment, and our job is to provide them with products that are aligned with their values," Thomas said.
He said Petco is working with its vendors to pursue its sustainability goals and reduce its "environmental paw print."
"Sustainability at Petco requires us to engage our internal teams and work with all of our suppliers to improve the products that reach our shelves," Thomas said.
He said it is sustainability can benefit Petco's vendors, too.
"Everyone in our internal organization somehow touches sustainability - from the purchasing agent working with buyers to the administrative assistant who makes sure that reports are printed double-sided. From the vendor perspective, there wouldn't be a single supplier that couldn't benefit and shouldn't be paying attention to sustainability," he said. "All companies generate waste, use materials, water and resources and there are potential ways to do it better."
The company hopes to develop sustainability criteria similar to the Walmart Sustainability Index within five years, Thomas said.
"Customers are going to demand more transparency and traceability. Arguably, if you want sustainable products, you have to ask suppliers questions in order to determine what to buy. At the end of the day we may not see sustainability as the No. 1 purchasing criteria, but it will surely rise into consideration along with price, quality, and customer service."
"At Petco we believe that reducing waste, using less energy and recycling materials saves money, is good for business and benefits the environment. Pet parents really care about the environment, and our job is to provide them with products that are aligned with their values," Thomas said.
He said Petco is working with its vendors to pursue its sustainability goals and reduce its "environmental paw print."
"Sustainability at Petco requires us to engage our internal teams and work with all of our suppliers to improve the products that reach our shelves," Thomas said.
He said it is sustainability can benefit Petco's vendors, too.
"Everyone in our internal organization somehow touches sustainability - from the purchasing agent working with buyers to the administrative assistant who makes sure that reports are printed double-sided. From the vendor perspective, there wouldn't be a single supplier that couldn't benefit and shouldn't be paying attention to sustainability," he said. "All companies generate waste, use materials, water and resources and there are potential ways to do it better."
The company hopes to develop sustainability criteria similar to the Walmart Sustainability Index within five years, Thomas said.
"Customers are going to demand more transparency and traceability. Arguably, if you want sustainable products, you have to ask suppliers questions in order to determine what to buy. At the end of the day we may not see sustainability as the No. 1 purchasing criteria, but it will surely rise into consideration along with price, quality, and customer service."
Wednesday, January 15, 2014
Petco, Blue Buffalo hold pet weigh-in challenge
- Before starting a weight-loss program, visit a veterinarian to find out a pet's ideal weight.
- Pet parents are usually unaware that their pets' food portion sizes are too large, so portion control is key.
- Break down meals into two to four small portions throughout the day to trick pets into feeling like they're eating more.
- Serve high-protein and low-fat food to keep pets full, and remember that treats should be no more than 10% of caloric intake.
- Pets should exercise at least 30 minutes a day.
- Keep an eye on pets' behavior when on a weight-loss program.
Pet supply chain Petco is hosting, and Blue Buffalo pet products is sponsoring, the "Pounds for Pounds" weigh-in challenge through January 26.
The goal of the challenge is to educate pet parents on what a healthy weight is for their pets and to raise funds for animal groups across the country, according to Petco. Pet owners can bring their dog or cat to any Unleashed by Petco location across the USA to be weighed using a special in-store pet scale. Store associates will track the number of pounds weighed from January 4 to January 26, 2014, and once a store reaches 5,000 pounds, it will donate $500 to a local animal group of their choice. With 103 stores, that's over $51,000 of potential funds nationwide, according to the company.
Unleashed by Petco's associates will also offer advice on weight management and nutrition to participating pets:
The goal of the challenge is to educate pet parents on what a healthy weight is for their pets and to raise funds for animal groups across the country, according to Petco. Pet owners can bring their dog or cat to any Unleashed by Petco location across the USA to be weighed using a special in-store pet scale. Store associates will track the number of pounds weighed from January 4 to January 26, 2014, and once a store reaches 5,000 pounds, it will donate $500 to a local animal group of their choice. With 103 stores, that's over $51,000 of potential funds nationwide, according to the company.
Unleashed by Petco's associates will also offer advice on weight management and nutrition to participating pets:
Thursday, October 17, 2013
Petco launches new marketing campaign driven by pet humanization trend
Petco recently launched a US$10 million marketing campaign, as part of which the company changed its slogan to "The Power of Together" from "Where the Healthy Pets Go," in hopes of capitalizing on the trend of pet humanization.
"As a company, we were at a place where we really wanted to continue to evolve our brand beyond just products and services, to connect emotionally with our customers and their pets," said Elisabeth Charles, chief marketing officer for Petco Animal Supplies.
To attract consumers, the company expanded its selection of products, which now includes things like treats by the pound, grain-free petfood and veterinary care. Petco's expanded offerings for pets and focus on pet humanization is expected to earn the company more than US$4 billion in sales in 2014.
CEO Jim Myers said consumers' purchases are more-closely reflecting their own interests, which means a strong interest in natural, organic and other specialty foods.
"Pet owners are very concerned these days with ingredient panels and ensuring that the best quality of items are in their foods," Myers said. "There's a lot more awareness of pet allergies and things that can help improve the skin and coat of your animal."
He said that consumers are more educated now on their pets' nutritional needs, so whereas they used to come in asking, "What's good?" he said, now they come into stores looking to learn about protein levels and grain types.
"I think it's just a natural progression, when we all want to do the very best for the people in our lives, and the animal is becoming part of the family and so is treated like another family member," Myers said.
Along with the new branding campaign, Petco is putting more focus on training its employees so they are knowledgeable to help customers who come in looking for these specialty petfoods.
"Even during tougher times, people are going to feed and clothe their animals," Myers said. "They may cut back on toys for a period of time, but people are very loyal to their pets."
"As a company, we were at a place where we really wanted to continue to evolve our brand beyond just products and services, to connect emotionally with our customers and their pets," said Elisabeth Charles, chief marketing officer for Petco Animal Supplies.
To attract consumers, the company expanded its selection of products, which now includes things like treats by the pound, grain-free petfood and veterinary care. Petco's expanded offerings for pets and focus on pet humanization is expected to earn the company more than US$4 billion in sales in 2014.
CEO Jim Myers said consumers' purchases are more-closely reflecting their own interests, which means a strong interest in natural, organic and other specialty foods.
"Pet owners are very concerned these days with ingredient panels and ensuring that the best quality of items are in their foods," Myers said. "There's a lot more awareness of pet allergies and things that can help improve the skin and coat of your animal."
He said that consumers are more educated now on their pets' nutritional needs, so whereas they used to come in asking, "What's good?" he said, now they come into stores looking to learn about protein levels and grain types.
"I think it's just a natural progression, when we all want to do the very best for the people in our lives, and the animal is becoming part of the family and so is treated like another family member," Myers said.
Along with the new branding campaign, Petco is putting more focus on training its employees so they are knowledgeable to help customers who come in looking for these specialty petfoods.
"Even during tougher times, people are going to feed and clothe their animals," Myers said. "They may cut back on toys for a period of time, but people are very loyal to their pets."
Monday, September 9, 2013
Petco to carry CANIDAE Life Stages, Grain Free PURE petfood formulas in US
CANIDAE Natural Pet Food Company announced today that as of October 1, its Life Stages and Grain Free PURE petfood formulas will be available at all US Petco and Unleashed by Petco stores online, making Petco the first and only national retailer to carry the line.
"We're proud to partner with a company that shares our core values and beliefs in caring for pets' overall well-being," said Frank Hon, vice president of global sales for CANIDAE. "Making our products available at Petco will provide widespread and convenient access to our customers and give us the ability to direct more funding to continued nutritional advances, new product launches and more consumer discounts. We're excited about this new partnership and we remain strongly committed to the pet specialty retail market."
"We're thrilled to add CANIDAE to Petco's industry-leading assortment of natural petfood brands," said John Sturm, Petco's vice president of merchandising for food and treats. "Like Petco, we know CANIDAE is committed to providing pet parents with high-quality, natural products to keep pets healthy and happy."
"We're proud to partner with a company that shares our core values and beliefs in caring for pets' overall well-being," said Frank Hon, vice president of global sales for CANIDAE. "Making our products available at Petco will provide widespread and convenient access to our customers and give us the ability to direct more funding to continued nutritional advances, new product launches and more consumer discounts. We're excited about this new partnership and we remain strongly committed to the pet specialty retail market."
"We're thrilled to add CANIDAE to Petco's industry-leading assortment of natural petfood brands," said John Sturm, Petco's vice president of merchandising for food and treats. "Like Petco, we know CANIDAE is committed to providing pet parents with high-quality, natural products to keep pets healthy and happy."
Wednesday, April 3, 2013
Pet retailer Petco named among World's Most Ethical Companies 2013
The Ethisphere Institute, an organization that creates and shares best practices in business ethics and sustainability, selected pet retailer Petco as one of its 2013 World’s Most Ethical Companies.
Ethisphere reviewed nominations from companies in more than 100 countries and 36 industries. Ethisphere reviewed codes of ethics, litigation and regulatory infraction histories, investment in innovation and sustainable business practices, activities to improve corporate citizenship and more.
“It’s an honor to be recognized once again as one of the world’s most ethical companies,” said CEO Jim Myers. “We’ve always been committed to doing the right thing for our customers, associates, partners, companion animals and the communities we serve. Ethics, integrity and social responsibility are critical factors in our ability to fulfill our vision for Healthier Pets. Happier People. Better World.”
Ethisphere reviewed nominations from companies in more than 100 countries and 36 industries. Ethisphere reviewed codes of ethics, litigation and regulatory infraction histories, investment in innovation and sustainable business practices, activities to improve corporate citizenship and more.
“It’s an honor to be recognized once again as one of the world’s most ethical companies,” said CEO Jim Myers. “We’ve always been committed to doing the right thing for our customers, associates, partners, companion animals and the communities we serve. Ethics, integrity and social responsibility are critical factors in our ability to fulfill our vision for Healthier Pets. Happier People. Better World.”
Friday, October 28, 2011
Petco kicks off National Pet Food Drive on October 30
From October 30 through November 13, Petco and the Petco Foundation will host the second annual National Pet Food Drive to collect pet food and litter donations at stores in the United States.
During the two-week drive, consumers can pick up extra food or litter during their shopping trip or bring unopened cans or bags from home, and drop it into the marked pet food collection bins located in each of the more than 1,100 Petco and Unleashed by Petco stores nationwide. Throughout the drive, Hill's Science Diet will match, pound-for-pound, every bag of dog and cat food donated, up to 100,000 pounds. "We believe no one should have to give up their pet companions due to financial distress, and our associates and customers agree," said Paul Jolly, the executive director of the Petco Foundation and a Petco vice president. "Last year's drive provided more than 90 tons – that's almost 200,000 pounds – of pet food for families in need; an incredible gift leading into the holiday season and such an easy way for people to help keep pets well-nourished and with the families who love them in tough economic times. We hope to double that this year, so we're asking the communities we serve to give a little extra and help us raise awareness for this important year-round program."
In addition to the opportunity to donate, Petco has also partnered with VolunteerMatch to give pet lovers around the country an opportunity to volunteer during the petfood drive. Best Friends Animal Society will support the national food drive by mobilizing its nationwide network of volunteers to register for the event and help drive awareness of the program.
To register as a food drive volunteer, visit http://petco.volunteermatch.org/ and select "Petco Foundation Pet Food Drive." Volunteer opportunities are open from 11 a.m. to 2 p.m. on Saturdays and Sundays throughout the pet food drive.
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