CVC Capital Partners and the Canada Pension Plan Investment Board announced they had entered into an agreement to buy Petco Animal Supplies from TPG and Leonard Green & Partners for $4.6 billion.
TPG and Leonard Green purchased Petco in a 2006 leveraged buyout for $1.79 billion. It was the second time the private equity duo had taken the firm private - in 2000 they paid about $600 million. The company was taken public in 2001 with a market cap of about $1.1 billion.
The largest Investors in the TPG fund include CalSTRS, Washington State Investment Board, CalPERS and -- CPPIB. The largest investors in the Leonard Green fund include CalPERS, Florida SBA, Oregon Public Employees Retirement Fund and Washington State Investment Board.