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Economy

San Diego-Based Petco Files For IPO

Petco Holdings Inc., the owner of 1,400 pet stores and the namesake of the Padres' downtown stadium, announced Monday it has filed for an initial public offering to again become a publicly traded company.

Details on how many shares will be offered and the possible price range were not immediately released. Documents filed with the Securities and Exchange Commission indicated the IPO would raise about $100 million.

The company was taken private in 2006 in a $1.8 billion buyout by private-equity firms TPG Global and Leonard Green & Partners.

According to the Wall Street Journal, Petco's primary rival, PetSmart Inc., was recently taken private in an $8.25 billion deal by BC Partners Ltd.

Petco ended the 2014 fiscal year with a $75.3 million profit on roughly $4 billion in net sales. The profit level was down about $10 million from the previous year.

The San Diego-based company has more than 1,400 stores in the United States, Mexico and Puerto Rico.