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.
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.