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Pet Valu Holdings Ltd. Announces Repurchase of 2,079,000 Common Shares
Pet Valu Holdings Ltd. Announces Repurchase of 2,079,000 Common Shares Canada NewsWire ...
About this update from Pet Valu Holdings Ltd.
[{"type":"text","content":"\n\n\n\n Pet Valu Holdings Ltd. Announces Repurchase of 2,079,000 Common Shares\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.prntal{\nTEXT-ALIGN: LEFT\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n /NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES./\n \n\n\n\n MARKHAM, ON\n \n\n ,\n \n\n May 12, 2025\n \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, announced today that it purchased for cancellation an aggregate of 2,079,000 common shares (\"Common Shares\") of the Company from PV Holdings S.à r.l., Roark Capital Partners II AIV AG, L.P., RCPS Equity Cayman LP and Roark Capital Partners Parallel II AIV AG, L.P. (collectively, the \"Selling Shareholders\") at a price of\n \n C$28.85\n \n per Common Share, representing a discount of approximately 4.5% to the closing price of the Common Shares on the TSX on\n \n May 12, 2025\n \n (the \"Share Repurchase\"). The Share Repurchase was funded with cash and available funds under the Company's credit agreement. The Company's board of directors (interested directors having recused themselves) unanimously approved the Share Repurchase upon the recommendation of a special committee composed solely of independent and disinterested directors (the \"Special Committee\") formed to consider the Share Repurchase. In arriving at its unanimous recommendation that the Share Repurchase is in the best interests of the Company, the Special Committee considered several factors, including among other things that the Share Repurchase would not reasonably be expected to have a significant negative effect on the market price or value of the Common Shares or financial condition of the Company.\n \n\n As separately announced, the Selling Shareholders have also today entered into an agreement with a syndicate of underwriters to complete a secondary offering of Common Shares on a bought deal basis (the \"Offering\"...