Petco

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Petco Animal Supplies, Inc.
Private
Industry Retail
Genre Pet store
Founded 1965
Headquarters San Diego, California
Number of locations
 1,300[1]
Products Pet supplies, Live animals
Owner CVC Capital Partners
Canada Pension Plan Investment Board
Slogan "The Power of Together."
Website http://www.petco.com
Petco headquarters in San Diego

Petco Animal Supplies is a privately held pet retailer in the United States, with corporate offices in San Diego and San Antonio, that sells pets as well as pet products and services. Petco sells or holds for adoption fish, reptiles, small birds, hamsters, guinea pigs, and mice. Pet services include grooming and dog training.

As of 2014, the company operates more than 1,300 locations [2] across the United States, Mexico, and Puerto Rico, including more than 100 Unleashed by Petco locations, a smaller format neighborhood brand launched in 2009; nine Pooch Hotel locations for pet daycare, boarding, and spa services; and an online shopping destination at petco.com.

"Think Adoption First" is a company philosophy and program, which encourages pet adoption rather than the purchase of companion animals whenever possible. Petco has never sold dogs or cats and, in 2008, the company stopped selling rabbits, as well.

In November 2015, CVC Capital Partners and the Canada Pension Plan Investment Board agreed to acquire Petco in a deal worth $4.6 billion. The move follows failed talks between Petco and PetSmart over a merger.[3] The deal is expected to close in early 2016.

A Petco store in Lewiston, Maine
Sign on an Unleashed store that opened in Oregon in 2013

Animal rights/controversy

Petco was spotlighted when they were selling large exotic birds in their shops. In 2005, they signed an agreement with PETA to end the sale of large birds.[4]

Legal issues

In June 2010, prosecutors from Marin, Los Angeles, San Diego, San Mateo, and Santa Barbara counties announced that Petco had agreed to settle a $1.75 million consumer protection lawsuit, without admitting liability. The settlement stems from a lawsuit filed in San Diego Superior Court that alleges Petco overcharged its customers and improperly cared for some animals, following inspections of Petco stores throughout California from 2005 through 2008. Petco paid more than $850,000 to resolve a similar case in 2004.[5]

In September 2011, a Petco location in Johnson City, New York came under fire when, during a severe flood of the surrounding area caused by Tropical Storm Lee, nearly 100 animals drowned when staff failed to move them to safety.[6] Despite severe weather warnings and flood advisories for the nearby river in the days leading to the flood, Petco had initially claimed it didn't receive warnings. Petco had also claimed that the casualties were caused by a backup in the store's drain/sewage line, and not by the flooding that had submerged the store with four feet of water. Johnson City Mayor Dennis Hannon has called Petco's initial claims "absurd", and stated that "With all the flood warnings and evacuation orders that were issued, for them not to go down there is just absolutely disgusting", further commenting that the flooding was caused by the weather and river flooding, and that the sewer/drain line backup was only a small part of the problem. Johnson City police have also stated that flood warnings were issued by the National Weather Service, and they should have been taken more seriously.[6][7][8] On September 12, 2011, Petco issued a statement accepting full responsibility for the event, saying that they "misjudged" the risk of a flood. PETA has called for a criminal investigation against Petco.[9][10] Soon after, Petco offered to donate $25,000 towards animal welfare centers in the area, and to give area residents a rebate on their website offering free shipping for orders over $25.[11]

Naming rights

Petco owns the naming rights to the Petco Park baseball stadium, home of the San Diego Padres.

Petco Foundation

The Petco Foundation, an independent nonprofit organization, has raised more than $125 million since it was created in 1999 to help promote and improve the welfare of companion animals. Petco and the Petco Foundation work with and support thousands of local animal welfare groups across the country to host in-store adoption events and help find homes for adoptable dogs, cats, and other companion animals.[citation needed]

References

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External links

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