Clayton, Dubilier & Rice and TPG Capital Acquire Covetrus

May 25, 2022

Funds affiliated with Clayton, Dubilier & Rice (CD&R) and TPG Capital agreed to acquire all outstanding shares of Covetrus for $21.00 per share in cash, implying an enterprise value of approximately $4.0 billion. The transaction, which closed in October 2022, takes Covetrus private; the company will continue to be led by CEO Benjamin Wolin and remain headquartered in Portland, Maine.

Buyers
Clayton, Dubilier & Rice, TPG Capital
Targets
Covetrus
Sellers
Covetrus shareholders
Industry
Veterinary
Location
Maine, United States
Transaction Type
Buyout

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