Source: Global Newswire
PetIQ, a prominent pet health and wellness company, has been acquired by Bansk Group, a private investment firm focused on consumer brands, in a $1.5 billion all-cash deal. PetIQ shareholders will receive $31 per share, and with the transaction’s completion, PetIQ has been delisted from Nasdaq, becoming a privately held entity. Founder and CEO Cord Christensen expressed enthusiasm about the partnership, noting that Bansk’s support will enable PetIQ to expand its mission of accessible and affordable pet healthcare while driving long-term growth.
Chris Kelly, Senior Partner at Bansk, highlighted plans to leverage their marketing and operational expertise to enhance PetIQ’s offerings. Bart Becht, Bansk’s Senior Partner and Chairman, emphasized the firm’s commitment to fostering PetIQ’s growth in the pet wellness sector through investments in marketing, innovation, and strategic acquisitions. This acquisition positions PetIQ for accelerated expansion and enhanced capabilities to better serve pet owners.
Read the full story HERE: https://www.globenewswire.com/news-release/2024/10/25/2969459/0/en/PetIQ-Inc-Announces-Successful-Completion-of-Acquisition-by-Bansk-Group.html