The Petco Health and Wellness Company, Inc. (Nasdaq: WOOF) recently ANNOUNCED that they have entered into a definitive agreement to purchase Thrive Pet Healthcare’s 50% stake in the parties’ pet hospital joint venture which currently operates nearly 100 veterinary hospitals in Petco stores across 14 U.S. states, under the THRIVE brand.

The joint venture was formed in May, 2017. Petco will transition the THRIVE locations to its Vetco Total Care hospital branding.

The transaction is expected to close in the second quarter of 2022, subject to closing conditions.

RELATED:

• PRESS RELEASE: Petco Advances Veterinary and Services Focus with Purchase of Remaining Stake in Joint Venture with Thrive Pet Healthcare (3.3.22)
  https://corporate.petco.com/2022-03-03-Petco-Advances-Veterinary-and-Services-Focus-with-Purchase-of-Remaining-Stake-in-Joint-Venture-with-Thrive-Pet-Healthcare

• Petco Expands Pet Services Offerings to Include Complete Vet Care (10.10.17)
  https://corporate.petco.com/2017-10-10-Petco-Expands-Pet-Services-Offerings-to-Include-Complete-Vet-Care
  • The company’s first veterinary hospital, operated by THRIVE Affordable Vet Care, opened inside a brand new store in Aldine, Texas last week.