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.
New shelter data casts doubt on whether the pet population and pet ownership are truly growing.
While the pandemic caused unprecedented suffering worldwide in 2020, the disruptions to dogs, cats and other pets adoption numbers may normalize in 2021.