Street Talk also understands the company has engaged the services of Jefferies, with the bank providing general strategic advice.
TPG Capital-backed Greencross is bulking up its pet retailing empire, acquiring a smaller, Melbourne-based rival Habitat Pet Supplies.
Subject to approval from the competition regulator, Greencross plans to merge the newly purchased business with its Petbarn division. Habitat Pet Supplies was established in 2012 by Dean and Rachelle Pantalleresco and has expanded to a five-store network across the city.and the Healthcare of Ontario Pension Plan in early 2022, in a transaction that valued Greencross at more than $3.5 billion.
Street Talk also understands the company has engaged the services of Michael Stock-led Jefferies, with the bank providing general strategic advice. In August,reported that Greencross was considering whether it was worth separating the company’s retail and veterinary operations, with the latter expected to be worth more than $1 billion in its own right. It is the largest player in the industry.
Greencross will open a large veterinary facility in Minchinbury, in Sydney’s west, later this year, acquired the Centre for Animal Referral Emergency in Collingwood, Melbourne in March, and opened the Greencross Vet Hospital at the University of Melbourne in February.. TPG has previously used the services of Credit Suisse and Morgan Stanley in reviewing the business. Despite the movement, an IPO is expected to be some time away.
has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones.
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