Roark Capital Group has agreed to purchase Canadian petfood retailer Pet Valu for CAN$143.7 million (US$123.3 million), according to Reuters .
Roark is offering CAN$13.68 (US$11.77) per share. The shares last traded on the Toronto Stock Exchange on July 7 for CAN$13.49 (US$11.60).
As part of the agreement, Pet Valu CEO Geoffrey Holt will retire when the transaction is completed, which is expected sometime in the third quarter.
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