CVC and CPPIB to buy Petco for about $4.6 bln

Mon Nov 23, 2015 1:31pm EST
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Nov 23 (Reuters) - Private equity firm CVC Capital Partners Ltd and the Canada Pension Plan Investment Board said they had agreed to buy U.S. pet supplies retailer Petco Holdings Inc for about $4.6 billion.

The two outbid other buyout firms in an auction for the company, which had been put up for sale by a group of investors led by private equity firms TPG Capital LP and Leonard Green & Partners LP.

CVC and CPPIB have secured more than $3 billion in debt financing for the acquisition, Reuters reported on Sunday, citing people familiar with the matter. (Reporting by Shubhankar Chakravorty in Bengaluru; Editing by Ted Kerr)