Roark Capital Group  has acquired Canada-based petfood and pet supplies retailer  Pet Valu  in a US$131 million deal, according to a news  report.  

This is Roark's second major acquisition since last year. Pet Valu had 356 franchised and corporate stores in Canada and the US.

Geoffrey Holt, Pet Valu founder, will retire as CEO and be replaced by Tom McNeely. Pet Valu's board will also have Russ Reynolds, CEO of Roark portfolio company Batteries Plus, as well as Steve Romaniello and Ezra Field, managing directors of Roark, and Jaime Wall, vice president, Roark.