Pet Valu has entered into the Québec market with the acquisition of Les Franchises Chico Inc. (Chico).
Chico is Québec’s largest franchisor of pet specialty stores, with 66 locations across the province. Founded in 1983 by Pierre Charbonneau and Michel Joly, the brand has been consistently growing its store count and sales, and in 2021, generated system-wide sales of approximately $79 million and revenue of approximately $7 million.
“Entering Québec marks a key milestone in our mission to be Canada’s preferred pet retailer,” said Richard Maltsbarger, president and chief executive officer of Pet Valu. “The acquisition Chico is an excellent strategic fit for both companies, as we welcome a great brand with a terrific group of franchisees and loyal customers to the Pet Valu family, with the opportunity to benefit from our scale, infrastructure, and franchisee support. We look forward to supporting Chico’s continued growth within the province and serving Québec’s devoted pet lovers.”
Similar to Pet Valu, Chico’s stores are all within local, small-format locations averaging 3000 square feet.
The company plans to operate Chico as a separate subsidiary led by a Montréal- based management team, with founders Charbonneau and Joly continuing to be active in the business, and intends to preserve the Chico banner in Québec.
“I have long envisioned seeing Chico expand across Québec, to provide a place for discerning pet owners to seek expert advice and high-quality products from dedicated, neighbourhood-based franchise owners,” said Charbonneau. “Pet Valu is the ideal partner to support Chico’s continued growth across the province, given the correlation onto our values and a strong track record fostering close relationships with their franchise network across
Canada.”
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