Welcome to our dedicated page for Petiq news (Ticker: PETQ), a resource for investors and traders seeking the latest updates and insights on Petiq stock.
PetIQ, Inc. (formerly Nasdaq: PETQ) appears frequently in corporate and financial news as a pet medication, health and wellness company focused on convenient access to affordable products and veterinary services. News coverage of PetIQ often centers on its role as a platform that combines pet medications, health and wellness items, and a broad veterinarian services footprint across thousands of mobile community clinics and wellness centers hosted at retail partners in dozens of states.
Readers of PetIQ news can expect updates on corporate transactions and ownership, such as the company’s announcement that it entered into and then completed an all‑cash acquisition by Bansk Group, after which PetIQ stated that its common stock would be delisted from the Nasdaq Stock Market and the company would become privately held. Company communications also feature leadership developments, including announcements about changes in executive roles.
Operational and financial news items for PetIQ include quarterly financial results, where the company discusses net sales, segment performance for its product and services businesses, and commentary on demand for pet medications, flea and tick products, and other health and wellness items. PetIQ’s releases also highlight marketing initiatives and product campaigns, such as the launch and promotion of its NextStar flea and tick topical brand and related educational efforts for pet parents.
For investors and observers researching PETQ’s history, this news stream provides context on PetIQ’s evolution from a Nasdaq‑listed company to a portfolio company of Bansk Group, along with ongoing updates about its product business, veterinarian services platform, and strategic priorities as described in its own announcements.
PetIQ has announced that Camillo Pane will join as Chief Executive Officer effective February 17, 2025, succeeding Cord Christensen. Pane brings over 30 years of experience in consumer goods and healthcare leadership, most recently serving as Group CEO of Health & Happiness Group. His previous roles include CEO of Coty, where he led the merger with P&G Specialty Beauty business, and a 20-year career at Reckitt Benckiser. He currently serves as Chairman of Alliance Pharma plc.
Pane expressed his commitment to accelerating growth, driving value creation, and delivering high-quality products and experiences in his new role at PetIQ. The company, a leading pet medication and wellness provider, aims to expand access to affordable veterinary services and grow its health products portfolio under Pane's leadership.
PetIQ announced the successful completion of its $1.5 billion acquisition by Bansk Group, a consumer-focused private investment firm. Under the terms, PetIQ stockholders will receive $31.00 in cash per share. Following the transaction, PetIQ has been delisted from Nasdaq and is now privately held, continuing operations independently under its current executive team. The partnership aims to accelerate PetIQ's mission of providing affordable pet healthcare while pursuing growth initiatives through strategic investments in marketing, innovation, and potential acquisitions.
PetIQ, Inc. (Nasdaq: PETQ), a leading pet medication, health and wellness company, announced that approximately 80% of its outstanding shares voted to approve the adoption of the definitive merger agreement with Bansk Group. The all-cash transaction, valued at approximately $1.5 billion, will result in Bansk Group acquiring all outstanding shares of PetIQ's common stock for $31.00 per share.
The company anticipates a closing date of October 25, 2024. Upon completion of the transaction, PetIQ's common stock will be delisted from the NASDAQ Stock Market, and the company will become privately held. PetIQ will continue to be operated independently by its current executive team. Cord Christensen, Founder, Chairman and CEO of PetIQ, expressed excitement about the stockholders' approval and the partnership with Bansk Group.
PetIQ, Inc. (Nasdaq: PETQ) reported record financial results for Q2 2024. Highlights include:
- Record net sales of $328.9 million, up 4.6%
- Record net income of $15.3 million, up 51.1%
- Record adjusted EBITDA of $39.0 million, up 19.0%
- Product segment net sales increased 4.7% to $291.2 million
- Services segment net sales increased 3.7% to $37.7 million
- Gross margin improved 330 basis points to 26.8%
Additionally, PetIQ announced a definitive merger agreement with Bansk Group, which will acquire all outstanding shares of PetIQ's common stock for $31.00 per share in an all-cash transaction expected to close in Q4 2024.
PetIQ, Inc. (Nasdaq: PETQ), a leading pet medication and wellness company, has entered into a definitive agreement to be acquired by Bansk Group for $31.00 per share in an all-cash transaction valued at approximately $1.5 billion. This represents a 41% premium to the 30-day volume-weighted average stock price and a 51% premium to the closing price on August 6, 2024.
The transaction, approved by PetIQ's Board of Directors, is expected to close in Q4 2024, subject to stockholder approval and regulatory conditions. Upon completion, PetIQ will become privately held and continue to operate independently under its current executive team. Bansk Group aims to leverage its expertise in building consumer brands to support PetIQ's growth initiatives in the pet health and wellness category.
PetIQ, Inc. (Nasdaq: PETQ), a leading pet medication, health and wellness company, has announced it will report its second quarter and six-month financial results for the period ended June 30, 2024, on Wednesday, August 7, 2024, after the market close. The company will host a conference call with executive management to discuss these results at 4:30 p.m. ET on the same day.
Interested parties can access the live call by dialing 833-816-1410 (North America) or 412-317-0503 (international). The call will also be broadcast live on the company's website. A telephonic playback will be available until August 28, 2024, accessible via 844-512-2921 (North America) or 412-317-6671 (international) with passcode 10189448.
PetIQ (Nasdaq: PETQ) has announced that its executive management team will take part in the Oppenheimer 24th Annual Consumer Growth and E-Commerce Conference. This event will feature a virtual fireside chat scheduled for June 11, 2024, at 10:30 a.m. EDT. The live webcast and replay will be accessible on the 'Investors' section of PetIQ's website.
PetIQ, Inc. reported strong financial results for the first quarter of 2024, with record net sales of $308.4 million, exceeding guidance. The company achieved record net income and adjusted EBITDA, leading to an increase in earnings per diluted share. PetIQ's manufactured products outperformed growth expectations, contributing to a 14.3% increase in net sales. The company raised its full-year 2024 outlook based on strong year-to-date results and increased marketing initiatives to drive growth.
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