/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES./ MARKHAM, Ontario, May 08, 2024 (GLOBE NEWSWIRE) -- Pet Valu Holdings Ltd. ("Pet Valu" or the "Company") (TSX:PET), the leading Canadian specialty retailer of pet food and pet-related supplies, has announced today that PV Holdings S.à r.l., Roark Capital Partners II AIV AG, L.P., RCPS Equity Cayman LP and Roark Capital Partners Parallel II AIV AG, L.P. (collectively, the "Selling Shareholders"), have entered into an agreement with a syndicate of underwriters led by CIBC Capital Markets and RBC Capital Markets to complete a secondary offering on a bought deal basis (the "Offering"). Under the agreement, the underwriters have agreed to purchase 5.9 million common shares of the Company at a purchase price of C$29.65 per common share for total gross proceeds to the Selling Shareholders of approximately C$175 million. The Selling Shareholders have granted the Underwriters an option, exercisable, in whole or in part, at any time until and including 30 days following the closing of the Offering, to purchase up to an additional 15% of the Offering at the offering price to cover over-allotments, if any. The net proceeds of the Offering will be paid directly to the Selling Shareholders. The Company will ...