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Eagle’s PetIQ aims to be a top dog in pet health & wellness

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In the 2018 Deal Flow report, the largest single deal belongs to PetIQ of Eagle. The under-the-radar local company had the largest reported deal in the state, with $78 million raised through a public offering during the year.

The company employs more than 1,452 people according to the SEC. It generated more than $528 million in annual revenue during its most-recent public filing. Cord Christensen co-founded the business in 2010 and serves as CEO.

The company focuses on several verticals, including veterinarian services and “veterinarian-grade” pet products.

PetIQ provides products and services under a variety of brands, including Betsy Farms – a maker of American-made dog greats, Pet Lock – a flea and tick prevention product, and PetAction – an off-brand competitor to Frontline Plus for Dogs.

In addition to the $78-million raised and listing on the NASDAQ, made two acquisitions last year.

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In January, it announced it would buy VIP Petcare, which operates veterinary clinics inside retailers. Locations are scattered from coast-to-coast, located in stores like Pet Food Express, Tractor Supply Co. and Pet Supermarket. It doesn’t currently have any locations in Idaho. PetIQ $100 million cash, $30 million in promissory notes and about $90 million in equity for VIP Petcare.

In October, it purchased HBH Enterprises for about $500,000 in cash and issuance of 400,000 in stock, as well as repayment of debt. HBH is a pet medication and wellness company.

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Don Day
Don is the founder and editor of BoiseDev. He is a National Edward R. Murrow Award winner and a Stanford University John S. Knight Fellow.

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