Business
Pet Valu Announces Acquisition of Chico, Québec's Largest Pet Specialty Franchisor
Pet Valu Announces Acquisition of Chico, Québec's Largest Pet Specialty Franchisor ...
About this update from Pet Valu Holdings Ltd.
[{"type":"text","content":"\n \n \n \n Pet Valu Announces Acquisition of Chico, Québec's Largest Pet Specialty Franchisor\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen2{\nPADDING-RIGHT:0.17em; PADDING-LEFT:0.17em; VERTICAL-ALIGN: TOP; BORDER-TOP:black 0pt initial; BORDER-RIGHT:black 0pt initial; BORDER-BOTTOM:black 0pt initial; BORDER-LEFT:black 0pt initial\n}\n.prnml4{\nMARGIN-TOP:0em; MARGIN-RIGHT:0em; MARGIN-BOTTOM:0em; MARGIN-LEFT:0.33em !IMPORTANT\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE; BORDER-TOP:initial initial black; BORDER-RIGHT:initial initial black; BORDER-BOTTOM:initial initial black; BORDER-LEFT:initial initial black\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n With Chico, Pet Valu now operates almost 700 stores across every Canadian province\n \n \n \n \n MARKHAM, ON\n \n ,\n \n Feb. 25, 2022\n \n /CNW/ - Pet Valu Holdings Ltd. (\"Pet Valu\" or the \"Company\") (TSX: PET), the leading Canadian specialty retailer of pet food and pet-related supplies, today announced its entry into the Québec market with the acquisition of Les Franchises Chico Inc. (\"Chico\").\n \n \n \n \n \n \n \n \n \n Chico is Québec's largest franchisor of pet specialty stores, with 66 locations across the province.  Founded in 1983 by\n \n Pierre Charbonneau\n \n and\n \n Michel Joly\n \n , Chico has a long heritage of serving devoted pet lovers in Québec. The brand has been consistently growing its store count and same store sales, and in 2021, generated system-wide sales of approximately\n \n $79 million\n \n and revenue of approximately\n \n $7 million\n \n .\n \n \n \"Entering Québec marks a key milestone in our mission to be\n \n Canada's\n \n preferred pet retailer,\" said\n \n Richard Maltsbarger\n \n , President and Chief Executive Officer of Pet Valu. \"The acquisition of Chico is an excellent strategic fit for both companies, as we welcome a great brand with a terrific group of franchisees and loyal customers to the Pet Valu family, with the opportunity to benefit from our scale, infrastructure and franchisee suppor...