Petco Health and Wellness Company, Inc.

What does Petco own?
Petco operates under the Petco brand with service sub-brands including Petco Grooming (in-store grooming services), Petco Veterinary (veterinary hospitals), Vital Care (membership program), and Petco Love (nonprofit animal welfare organization). The company also sells private label pet food and supply brands including WholeHearted, Reddy, and You & Me. Petco operates 1,382 retail stores across the United States, Mexico, and Puerto Rico.

Is Petco publicly traded?
Yes, Petco Health and Wellness Company, Inc. is publicly traded on NASDAQ under ticker WOOF. The company returned to public markets in January 2021 through an IPO that raised approximately $864 million. Prior to the IPO, Petco was privately held by TPG Capital and Leonard Green & Partners, who took the company private in 2006 for approximately $1.8 billion.

Who founded Petco?
Petco was founded in 1965 by Walter Evans, Lewis Weston, and William Thomas in San Diego, California. The company started as a mail-order veterinary supply business, selling pet medications and supplies to veterinarians. The founders expanded into retail in the 1970s, opening pet supply stores across California.

Where is Petco headquartered?
Petco is headquartered in San Diego, California, USA. The company has maintained its headquarters in San Diego since its founding in 1965. Petco operates retail stores, distribution centers, e-commerce fulfillment centers, and veterinary hospitals across the United States, Mexico, and Puerto Rico.

How many brands does Petco own?
Petco operates primarily under the Petco brand, with service sub-brands including Petco Grooming, Petco Veterinary, Vital Care, and Petco Love. The company also sells private label product brands including WholeHearted (pet food), Reddy (dog accessories), and You & Me (pet supplies). The company does not operate separate consumer-facing brands outside the Petco umbrella.

Who owns Petco?
Petco is a publicly traded company with a dispersed shareholder base. Institutional investors hold the majority of shares. TPG Capital and Leonard Green & Partners, the private equity firms that took Petco private in 2006, retained significant stakes following the 2021 IPO but have been gradually reducing their positions. No single shareholder holds a controlling stake.

What is Petco's financial performance?
For fiscal year 2025 (ended January 31, 2026), Petco reported net sales of $6.0 billion, down 2.5% from $6.12 billion in FY2024. Net income was $9.1 million, compared to a net loss of $101.8 million in FY2024. Adjusted EBITDA increased 21.3% to $408.2 million. Gross margin expanded 66 basis points to 38.7%. Free cash flow was $187 million, up 276%. The company ended FY2025 with $256.7 million in cash and $1.24 billion in net debt, with a leverage ratio of 3.0x. For FY2026, Petco projects net sales flat to up 1.5% and adjusted EBITDA of $415 million to $430 million.

Petco was founded in 1965 by Walter Evans, Lewis Weston, and William Thomas in San Diego, California. The company started as a mail-order veterinary supply business, selling pet medications and supplies to veterinarians. The founders recognized the growing demand for pet supplies as pet ownership increased in the United States.

The company expanded into retail in the 1970s, opening pet supply stores across California. Petco grew through geographic expansion, opening stores in other western states. The company went public in 1994, raising capital for further expansion. Petco continued to grow through the 1990s, expanding across the United States through a combination of new store openings and acquisitions of smaller pet supply chains.

In 2000, Petco expanded its services to include grooming and training, adding revenue streams beyond product sales. The company began incorporating full-service grooming salons and dog training classes into its stores.

In 2006, Petco was taken private by private equity firms TPG Capital and Leonard Green & Partners for approximately $1.8 billion. The private equity owners invested in store expansion, service offerings, and digital capabilities. Petco expanded its veterinary services through the acquisition of veterinary hospital chains.

In 2015, Petco acquired Drs. Foster and Smith, a pet supplies retailer, to expand its e-commerce capabilities. The company also invested in its private label brands and premium pet food offerings.

Petco returned to public markets in January 2021 through an IPO on NASDAQ under ticker WOOF. The company raised approximately $864 million in the offering. The IPO valued Petco at approximately $6 billion at the time of listing.

In 2024, Joel Anderson was appointed CEO, succeeding Ron Coughlin. Anderson initiated a strategy focused on operational discipline, profitability improvement, and reducing unprofitable revenue. The strategy included closing underperforming stores, optimizing inventory, and expanding high-margin services.

For FY2025 (ended January 31, 2026), Petco reported net sales of $6.0 billion, a 2.5% decrease from $6.12 billion in FY2024. However, profitability improved significantly: net income was $9.1 million compared to a loss of $101.8 million in FY2024, and adjusted EBITDA increased 21.3% to $408.2 million. Gross margin expanded 66 basis points to 38.7%. The company closed 16 stores during the year, ending with 1,382 locations. Free cash flow was $187 million, up 276% from FY2024.

In February 2026, Petco completed a debt refinancing, extending maturities to 2031 through a $900 million variable rate term loan and $600 million fixed rate bond. The company voluntarily paid down $95 million in debt during FY2025, reducing its leverage ratio from 4.2x to 3.0x.

Petco's sustainability and ethics initiatives focus on animal welfare, responsible sourcing, and community impact. The company has a long-standing commitment to animal welfare through Petco Love (formerly the Petco Foundation), founded in 1999. Petco Love supports thousands of local animal welfare groups nationwide and has helped find homes for over 7 million animals through in-store adoption events.

The company has a policy of not selling dogs or cats in its stores, instead partnering with local animal welfare organizations for adoption events. Petco also maintains standards for the sourcing of animals it does sell, including fish, reptiles, and small animals, with requirements for suppliers regarding animal health and welfare.

Petco has committed to sustainable sourcing for its private label products, including sustainable seafood in its pet food lines. The company has set targets for reducing packaging waste and increasing the use of recyclable materials in its private label packaging.

The company's ethical sourcing program includes supplier standards covering labor practices, environmental compliance, and product safety. Petco requires suppliers to comply with applicable laws and regulations and conducts audits of its private label supply chain.

Petco is not a Certified B Corporation. The company publishes sustainability information on its website but does not produce a standalone ESG report comparable to large publicly traded peers.

Petco has faced criticism from animal welfare advocates regarding the sale of animals in its stores, particularly small animals, fish, and reptiles. The company has responded by implementing sourcing standards and partnering with animal welfare organizations, but some advocates continue to push for an end to all animal sales.

In 2023, Petco faced a class action lawsuit alleging that the company's Vital Care membership program did not deliver promised discounts and benefits. The lawsuit was settled, and Petco made changes to the program's terms and communication.

Petco has faced scrutiny over its debt levels following the 2021 IPO. The company carried significant debt from its private equity ownership period, with a leverage ratio of 4.2x at the beginning of FY2025. The company reduced this to 3.0x by year-end through voluntary debt payments and improved profitability. In February 2026, Petco refinanced its debt, extending maturities to 2031.

The company has also faced competition-related scrutiny. As one of two major pet specialty retailers (alongside PetSmart), Petco operates in a concentrated market. The Federal Trade Commission has historically scrutinized consolidation in the pet retail industry, blocking a proposed Petco-PetSmart merger in 2000.

Petco's veterinary services are subject to state and federal regulations governing veterinary practice, including licensing requirements for veterinarians and standards for animal care. The company must navigate varying regulatory requirements across the states in which it operates veterinary hospitals.