Latest news with #PetValu
Yahoo
6 days ago
- Business
- Yahoo
Pet Valu Holdings Ltd. Announces C$576 Million Secondary Bought Deal Offering
Base shelf prospectus is accessible, and prospectus supplement will be accessible within two business days, on SEDAR+ /NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES./ MARKHAM, ON, June 3, 2025 /CNW/ - Pet Valu Holdings Ltd. ("Pet Valu" or the "Company") (TSX: PET), the leading Canadian specialty retailer of pet food and pet-related supplies, announced today that PV Holdings S.à r.l., Roark Capital Partners II AIV AG, L.P., RCPS Equity Cayman LP and Roark Capital Partners Parallel II AIV AG, L.P. (collectively, the "Selling Shareholders"), have entered into an agreement with RBC Capital Markets and CIBC Capital Markets (the "Underwriters") to complete a secondary offering on a bought deal basis (the "Offering"). Under the agreement, the Underwriters have agreed to purchase 19,969,450 common shares ("Common Shares") of the Company at a purchase price of C$28.85 per Common Share for total gross proceeds to the Selling Shareholders of approximately C$576 million. The net proceeds of the Offering will be paid directly to the Selling Shareholders. The Company will not receive any proceeds from the Offering. The Common Shares will be offered by way of a prospectus supplement to the short form base shelf prospectus of the Company dated August 15, 2024 in all of the provinces and territories of Canada and may also be offered by way of private placement in the United States. The Offering is expected to close on or about June 9, 2025, subject to customary closing conditions. Following the completion of the Offering, the Selling Shareholders will no longer own any common shares of Pet Valu. As a result, the investor rights agreement (the "Investor Rights Agreement") between the Company and the Selling Shareholders, which provided the Selling Shareholders with certain contractual rights related to, among other things, the nomination of directors of the Company, will terminate in accordance with its terms. Clayton Harmon, Patrick Hillegass and Kevin Hofmann are nominees of the Selling Shareholders on the board of directors of the Company pursuant to the Investor Rights Agreement. In connection with the termination of the Investor Rights Agreement, the Company anticipates that Clayton Harmon will resign as a director, and Patrick Hillegass and Kevin Hofmann will continue as directors of the Company pending identification by the board of directors of suitable replacement directors. Richard Maltsbarger, Chief Executive Officer of Pet Valu, commented, "this transaction marks a significant milestone after a successful relationship between Pet Valu and Roark. We extend our sincere gratitude to Roark who, as franchise business model specialists, helped transform Pet Valu from a regional 350-store network into Canada's largest pet specialty retailer serving millions of devoted pet lovers annually. Their expertise, stewardship, and patience enabled us to make multi-year investments in people, processes, and systems to drive growth." "With an unmatched, national omni-channel presence and modernized supply chain, Pet Valu is very well positioned to continue its strong track record of growth," continued Mr. Maltsbarger. "We expect to continue to deliver compelling returns to our shareholders and franchisee owners as we pursue our mission to be Canada's preferred pet retailer." Clayton Harmon, Managing Director at Roark Capital Management, LLC, added, "we wish Richard, Linda, Greg, and everyone at Pet Valu all the best. With its high-quality brand, franchisees, team, and shareholders, we look forward to watching its continued success in the years ahead." The Common Shares have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or the securities laws of any state of the United States and may not be offered, sold or delivered, directly or indirectly, in the United States (as such term is defined in Regulation S under the U.S. Securities Act) or to, or for the account or benefit of, U.S. Persons (as defined in the U.S. Securities Act), except pursuant to an exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws. This news release does not constitute an offer to sell or solicitation of an offer to buy any Common Shares in any jurisdiction in which the offering or sale is not permitted. Access to the prospectus supplement, the base shelf prospectus and any amendments to the documents is provided in accordance with securities legislation relating to procedures for providing access to a prospectus supplement, a base shelf prospectus and any amendment. The base shelf prospectus is, and the prospectus supplement will be (within two business days of the date hereof), accessible on SEDAR+ at An electronic or paper copy of the prospectus supplement, the base shelf prospectus and any amendment to the documents may be obtained, without charge, from RBC Dominion Securities Inc., Attention: Distribution Centre, 180 Wellington Street West, 8th Floor, Toronto, ON M5J 0C2 or by email at or CIBC Capital Markets, 161 Bay Street, 5th Floor, Toronto, ON M5J 2S8 or by telephone at 416-956-6378 or by email at by providing the contact with an email address or address, as applicable. The base shelf prospectus and prospectus supplement contain important, detailed information about the Company and the proposed Offering. Prospective investors should read the base shelf prospectus and prospectus supplement (when filed) before making an investment decision. About Pet Valu Pet Valu is Canada's leading retailer of pet food and pet-related supplies with over 800 corporate-owned or franchised locations across the country. For more than 45 years, Pet Valu has earned the trust and loyalty of pet parents by offering knowledgeable customer service, an extensive product offering and engaging in-store services. Through its local neighbourhood stores and digital platform, Pet Valu offers more than 10,000 competitively-priced products, including a broad assortment of exclusive, holistic and award-winning proprietary brands. The Company is headquartered in Markham, Ontario, and has distribution centres in Brampton, Ontario, Surrey, British Columbia and Calgary, Alberta. Its shares trade on the Toronto Stock Exchange (TSX: PET). To learn more, please visit: Forward-Looking Information Some of the information contained in this press release is forward-looking information. Forward-looking information is provided as at the date of this press release and is based on management's opinions, estimates and assumptions in light of its experience and perception of historical trends, current trends, current conditions and expected future developments, as well as other factors that management believes appropriate and reasonable in the circumstances. Such forward-looking information is intended to provide information about management's current expectations and plans, and may not be appropriate for other purposes. Pet Valu does not undertake to update any such forward-looking information whether as a result of new information, future events or otherwise, except as required under applicable Canadian securities laws. Actual results and the timing of events may differ materially from those anticipated in the forward-looking information as a result of various factors and assumptions, and subject to the risks as set out in the Company's annual information form dated March 3, 2025 and as discussed under "Risk Factors" in the prospectus supplement and short form base shelf prospectus. SOURCE Pet Valu Holdings Ltd. View original content:
Cision Canada
6 days ago
- Business
- Cision Canada
Pet Valu Holdings Ltd. Announces C$576 Million Secondary Bought Deal Offering
Base shelf prospectus is accessible, and prospectus supplement will be accessible within two business days, on SEDAR+ /NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES./ MARKHAM, ON, June 3, 2025 /CNW/ - Pet Valu Holdings Ltd. ("Pet Valu" or the "Company") (TSX: PET), the leading Canadian specialty retailer of pet food and pet-related supplies, announced today that PV Holdings S.à r.l., Roark Capital Partners II AIV AG, L.P., RCPS Equity Cayman LP and Roark Capital Partners Parallel II AIV AG, L.P. (collectively, the "Selling Shareholders"), have entered into an agreement with RBC Capital Markets and CIBC Capital Markets (the "Underwriters") to complete a secondary offering on a bought deal basis (the "Offering"). Under the agreement, the Underwriters have agreed to purchase 19,969,450 common shares ("Common Shares") of the Company at a purchase price of C$28.85 per Common Share for total gross proceeds to the Selling Shareholders of approximately C$576 million. The net proceeds of the Offering will be paid directly to the Selling Shareholders. The Company will not receive any proceeds from the Offering. The Common Shares will be offered by way of a prospectus supplement to the short form base shelf prospectus of the Company dated August 15, 2024 in all of the provinces and territories of Canada and may also be offered by way of private placement in the United States. The Offering is expected to close on or about June 9, 2025, subject to customary closing conditions. Following the completion of the Offering, the Selling Shareholders will no longer own any common shares of Pet Valu. As a result, the investor rights agreement (the "Investor Rights Agreement") between the Company and the Selling Shareholders, which provided the Selling Shareholders with certain contractual rights related to, among other things, the nomination of directors of the Company, will terminate in accordance with its terms. Clayton Harmon, Patrick Hillegass and Kevin Hofmann are nominees of the Selling Shareholders on the board of directors of the Company pursuant to the Investor Rights Agreement. In connection with the termination of the Investor Rights Agreement, the Company anticipates that Clayton Harmon will resign as a director, and Patrick Hillegass and Kevin Hofmann will continue as directors of the Company pending identification by the board of directors of suitable replacement directors. Richard Maltsbarger, Chief Executive Officer of Pet Valu, commented, "this transaction marks a significant milestone after a successful relationship between Pet Valu and Roark. We extend our sincere gratitude to Roark who, as franchise business model specialists, helped transform Pet Valu from a regional 350-store network into Canada's largest pet specialty retailer serving millions of devoted pet lovers annually. Their expertise, stewardship, and patience enabled us to make multi-year investments in people, processes, and systems to drive growth." "With an unmatched, national omni-channel presence and modernized supply chain, Pet Valu is very well positioned to continue its strong track record of growth," continued Mr. Maltsbarger. "We expect to continue to deliver compelling returns to our shareholders and franchisee owners as we pursue our mission to be Canada's preferred pet retailer." Clayton Harmon, Managing Director at Roark Capital Management, LLC, added, "we wish Richard, Linda, Greg, and everyone at Pet Valu all the best. With its high-quality brand, franchisees, team, and shareholders, we look forward to watching its continued success in the years ahead." The Common Shares have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or the securities laws of any state of the United States and may not be offered, sold or delivered, directly or indirectly, in the United States (as such term is defined in Regulation S under the U.S. Securities Act) or to, or for the account or benefit of, U.S. Persons (as defined in the U.S. Securities Act), except pursuant to an exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws. This news release does not constitute an offer to sell or solicitation of an offer to buy any Common Shares in any jurisdiction in which the offering or sale is not permitted. Access to the prospectus supplement, the base shelf prospectus and any amendments to the documents is provided in accordance with securities legislation relating to procedures for providing access to a prospectus supplement, a base shelf prospectus and any amendment. The base shelf prospectus is, and the prospectus supplement will be (within two business days of the date hereof), accessible on SEDAR+ at An electronic or paper copy of the prospectus supplement, the base shelf prospectus and any amendment to the documents may be obtained, without charge, from RBC Dominion Securities Inc., Attention: Distribution Centre, 180 Wellington Street West, 8th Floor, Toronto, ON M5J 0C2 or by email at [email protected] or CIBC Capital Markets, 161 Bay Street, 5th Floor, Toronto, ON M5J 2S8 or by telephone at 416-956-6378 or by email at [email protected] by providing the contact with an email address or address, as applicable. The base shelf prospectus and prospectus supplement contain important, detailed information about the Company and the proposed Offering. Prospective investors should read the base shelf prospectus and prospectus supplement (when filed) before making an investment decision. About Pet Valu Pet Valu is Canada's leading retailer of pet food and pet-related supplies with over 800 corporate-owned or franchised locations across the country. For more than 45 years, Pet Valu has earned the trust and loyalty of pet parents by offering knowledgeable customer service, an extensive product offering and engaging in-store services. Through its local neighbourhood stores and digital platform, Pet Valu offers more than 10,000 competitively-priced products, including a broad assortment of exclusive, holistic and award-winning proprietary brands. The Company is headquartered in Markham, Ontario, and has distribution centres in Brampton, Ontario, Surrey, British Columbia and Calgary, Alberta. Its shares trade on the Toronto Stock Exchange (TSX: PET). To learn more, please visit: Forward-Looking Information Some of the information contained in this press release is forward-looking information. Forward-looking information is provided as at the date of this press release and is based on management's opinions, estimates and assumptions in light of its experience and perception of historical trends, current trends, current conditions and expected future developments, as well as other factors that management believes appropriate and reasonable in the circumstances. Such forward-looking information is intended to provide information about management's current expectations and plans, and may not be appropriate for other purposes. Pet Valu does not undertake to update any such forward-looking information whether as a result of new information, future events or otherwise, except as required under applicable Canadian securities laws. Actual results and the timing of events may differ materially from those anticipated in the forward-looking information as a result of various factors and assumptions, and subject to the risks as set out in the Company's annual information form dated March 3, 2025 and as discussed under "Risk Factors" in the prospectus supplement and short form base shelf prospectus.
CTV News
27-05-2025
- Lifestyle
- CTV News
Tips for pet travel adventures
Atlantic Watch The folks from Pet Valu chat about preparing for a road trip with our furry friends.
CTV News
26-05-2025
- General
- CTV News
Walks across Canada raise money for those in need of service dogs
Dogs go for a stroll on Quinpool Road in Halifax on May 25, 2025. (CTV Atlantic) Walks were held across the country over the weekend to raise money for the Lions Foundation of Canada Dog Guides program, with one taking place in Halifax. Hosted by Pet Valu on Quinpool Road, the event on Sunday saw a handful of dog owners bring their furry friends for a stroll in an effort to raise money for the foundation's guide dog school in Oakville, Ont. 'Honestly, just bringing the community together for a cause such as the dog guides, Lions Foundation, is so amazing,' said Bridget Landry, manager of Pet Valu. 'Dog guides provide services all across the country. We've got actually 66 teams just in Atlantic Canada of people and their guide dogs, which is super, super awesome.' The school helps train service dogs for people who need support with hearing, vision, diabetic alerts, autism assistance, and more. 'The demand is very high. The rate of approved recipients far outweighs the number of applications that we receive, but, whenever possible, we ensure that those people receive the appropriate guide dogs that they need for their purpose,' said Clyde Paul, president of the Armdale Fairview Rockingham Lions Club. Events like the one on Sunday help the foundation cover the cost of breeding and training the service dogs and match them with people in need free of charge. The cost to breed and train just one dog is approximately $35,000. Sunday's event in Halifax helped raise more than $1,500 for the foundation. For more Nova Scotia news, visit our dedicated provincial page
Yahoo
24-05-2025
- Business
- Yahoo
Pet Valu Holdings (TSE:PET) Is Paying Out A Dividend Of CA$0.12
Pet Valu Holdings Ltd. (TSE:PET) will pay a dividend of CA$0.12 on the 16th of June. This means the annual payment will be 1.6% of the current stock price, which is lower than the industry average. This technology could replace computers: discover the 20 stocks are working to make quantum computing a reality. It would be nice for the yield to be higher, but we should also check if higher levels of dividend payment would be sustainable. However, Pet Valu Holdings' earnings easily cover the dividend. This means that most of its earnings are being retained to grow the business. The next year is set to see EPS grow by 17.4%. Assuming the dividend continues along recent trends, we think the payout ratio could be 42% by next year, which is in a pretty sustainable range. Check out our latest analysis for Pet Valu Holdings Looking back, the dividend has been stable, but the company hasn't been paying a dividend for very long so we can't be confident that the dividend will remain stable through all economic environments. The dividend has gone from an annual total of CA$0.04 in 2021 to the most recent total annual payment of CA$0.48. This works out to be a compound annual growth rate (CAGR) of approximately 86% a year over that time. We're not overly excited about the relatively short history of dividend payments, however the dividend is growing at a nice rate and we might take a closer look. Some investors will be chomping at the bit to buy some of the company's stock based on its dividend history. Let's not jump to conclusions as things might not be as good as they appear on the surface. Over the past three years, it looks as though Pet Valu Holdings' EPS has declined at around 5.1% a year. A modest decline in earnings isn't great, and it makes it quite unlikely that the dividend will grow in the future unless that trend can be reversed. Earnings are forecast to grow over the next 12 months and if that happens we could still be a little bit cautious until it becomes a pattern. In summary, while it's good to see that the dividend hasn't been cut, we are a bit cautious about Pet Valu Holdings' payments, as there could be some issues with sustaining them into the future. The payments haven't been particularly stable and we don't see huge growth potential, but with the dividend well covered by cash flows it could prove to be reliable over the short term. This company is not in the top tier of income providing stocks. Market movements attest to how highly valued a consistent dividend policy is compared to one which is more unpredictable. At the same time, there are other factors our readers should be conscious of before pouring capital into a stock. For instance, we've picked out 1 warning sign for Pet Valu Holdings that investors should take into consideration. Is Pet Valu Holdings not quite the opportunity you were looking for? Why not check out our selection of top dividend stocks. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
