Petco Health and Wellness Company, Inc.

American pet specialty retailer founded in 1965, known for pet supplies, grooming, and veterinary services, headquartered in San Diego, California.

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.

In 2000, Petco acquired PetsMart, a competing pet retailer, but the acquisition was blocked by the Federal Trade Commission on antitrust grounds. Petco continued to grow organically and through smaller acquisitions. The company expanded its services to include grooming and training in the early 2000s.

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 and service offerings. Petco expanded its veterinary services through the acquisition of veterinary hospital chains.

Petco returned to public markets in 2021 through an initial public offering. The company raised approximately $864 million in the IPO. Petco has continued to expand its services and e-commerce capabilities since returning to public markets. The company has focused on pet health and wellness as a differentiator from competitors.

Recent strategic direction has focused on pet health and wellness services. Petco has expanded its veterinary hospital network and invested in e-commerce and digital capabilities. The company has also focused on premium pet food and wellness products to drive growth.