Private-equity firm Bansk Group has agreed to acquire pet health and wellness company PetIQ Inc. (NASDAQ: PETQ) for $31 per share in cash, valuing the Idaho-based business at approximately $1.5 billion. The offer represents a roughly 51% premium to PetIQ’s closing price before the announcement and a 41% premium to its 30-day volume-weighted average.
PetIQ operates one of the largest U.S. platforms for pet medications, wellness products and veterinary services, reaching consumers through retail partners, e-commerce and its own veterinary clinics. The deal comes weeks after PetIQ closed its acquisition of MYOS Corp., adding the clinically studied Fortetropin® muscle-health ingredient to its portfolio.
For Bansk, the transaction is a bet on scaled pet health infrastructure at a time when veterinary visit trends are under pressure but preventive wellness spending continues to rise. Taking PetIQ private gives Bansk runway to integrate MYOS, expand the petRx and telehealth offering, and invest in clinic and digital capabilities away from quarterly earnings scrutiny.
