PETC Petco Animal Supplies

SAN DIEGO, Oct. 23 /PRNewswire-FirstCall/ -- Stockholders of PETCO Animal Supplies, Inc. (NASDAQ:PETC), a leading specialty retailer of premium pet food, supplies and services, today approved the acquisition of PETCO by private equity investment firms Texas Pacific Group and Leonard Green & Partners, L.P., for $29 per share in cash. The transaction, which has a total value of approximately $1.8 billion (including assumed debt), is expected to close this week. About PETCO Animal Supplies, Inc. PETCO is a leading specialty retailer of premium pet food, supplies and services. PETCO's vision is to best promote, through its people, the highest level of well being for companion animals, and to support the human-animal bond. It operates more than 800 stores in 49 states and the District of Columbia, as well as a leading destination for online pet food and supplies at http://www.petco.com/. Since its inception in 1999, The PETCO Foundation, PETCO's non-profit organization, has raised more than $31 million in support of more than 3,800 non-profit grassroots animal welfare organizations around the nation. About Texas Pacific Group Texas Pacific Group, based in Fort Worth, TX, is a private investment firm with more than $30 billion of assets under management. TPG invests in world-class franchises across a range of industries and has extensive experience with public and private investments executed through leveraged buyouts, recapitalizations, take private transactions, spinouts, joint ventures, and restructurings. Visit http://www.texaspacificgroup.com/. About Leonard Green & Partners, L.P. Leonard Green & Partners is a Los Angeles-based private equity firm specializing in organizing, structuring and sponsoring management buy-outs, going-private transactions and recapitalizations of established public and private companies. Leonard Green & Partners is the largest private equity firm in Southern California managing approximately $3.7 billion of private equity capital. Visit http://www.leonardgreen.com/. Forward-Looking Statements Certain statements in this news release that are not historical fact constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements typically are identified by the use of terms such as "may," "should," "might," "believe," "expect," "anticipate," "estimate" and similar words, although some may be expressed differently. Forward-looking statements in this release include, but are not limited to, statements regarding the expected closing of the merger transaction. These statements are based on management's current expectations. There are a number of risks and uncertainties that could cause actual results to differ materially. Certain other risks associated with the merger and our business are discussed from time to time in the reports filed by PETCO with the Securities and Exchange Commission, including the Annual Report on Form 10-K for the fiscal year ended January 28, 2006 and the proxy statement filed September 18, 2006. PETCO disclaims any intent or obligation to update these forward-looking statements. DATASOURCE: PETCO Animal Supplies, Inc. CONTACT: Investors, Chaith Kondragunta, Director, Investor Relations, +1-858-202-7846, or Media, Kevin Whalen, VP, Communications, +1-858-202-7843, both of PETCO Animal Supplies, Inc.; or Owen Blicksilver of Owen Blicksilver PR, +1-516-742-5950, for Texas Pacific Group and Leonard Green & Partners Web site: http://www.petco.com/

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