Petco Opens First Store in Mexico Joint Venture with Grupo Gigante calls for as many as 50 more stores in Mexico, Latin America by 2020
SAN DIEGO, Oct. 25, 2013 /PRNewswire/ -- Petco, a leading pet specialty retailer with stores throughout the United States, has opened its first store in Mexico and announced plans for continued expansion in Mexico and Latin America through a previously announced joint venture with Grupo Gigante of Mexico.
Together, the companies plan to open as many as 50 Petco stores in Mexico and Latin America by 2020. Terms of the joint venture were not disclosed.
During a grand opening ceremony in Guadalajara on Friday, company executives were on hand to mark the occasion. "For nearly 50 years, Petco has been a leader in providing pet lovers with the products, services and advice they need to help their pets live happy, healthy lives, and we're excited to begin serving pet parents in Mexico and Latin America," Petco Chief Executive Officer Jim Myers said. "We believe our pet specialty expertise, combined with Grupo Gigante's strong knowledge and track record in Latin America, will be a powerful combination that will further drive our growth."
Grupo Gigante S.A.B. DE C.V. (GG) is a Mexican company publicly traded in the Mexican Stock Market. GG has business operations with Office Depot de México (office supplies), The Home Store (home & fashion stores), Gigante Grupo Inmobiliario (real estate management and project development), The Cup Stop (coffee shop express service), Restaurantes Toks (family restaurants), and Aling Pro (software and business management solutions), and maintains its social commitment via Gigante Foundation. Based in Mexico City, the 50-year old company is one of the most respected in Mexico and employs more than 19,000 people.
About Petco and the Petco Foundation
Petco is a leading pet specialty retailer that focuses on nurturing the powerful relationship between people and pets. We do this by providing the products, services, advice and experiences that keep pets physically fit, mentally alert, socially engaged and emotionally happy. Everything we do is guided by our vision for Healthier Pets. Happier People. Better World. We operate more than 1,250 stores nationwide and in Puerto Rico, including more than 80 Unleashed by Petco locations, a smaller format neighborhood shop; nine Pooch Hotel destinations for pet daycare, boarding and spa services; and petco.com. The Petco Foundation, an independent nonprofit organization, has raised more than $115 million since it was created in 1999 to help promote and improve the welfare of companion animals. In conjunction with the Foundation, we work with and support thousands of local animal welfare groups across the country and, through in-store adoption events, help find homes for more than 350,000 animals every year.
Contact: David Hallisey, Petco, +1 858 453-9845, ext. 2072; +1 858 860 4980, firstname.lastname@example.org