Bansk Group announced that its portfolio company, PetIQ, has completed the sale of its veterinary services business, VIP Petcare, to Tractor Supply Company. Financial terms of the transaction were not disclosed.
The transaction represents a major milestone in PetIQ’s transformation into a branded pet health and wellness company focused on over-the-counter medications and wellness products. PetIQ’s portfolio includes brands such as PetArmor, Capstar, Nexstar, Minties, VetIQ, and Rocco & Roxie, which are distributed through retail and e-commerce channels across more than 60,000 locations nationwide.
According to the announcement, VIP Petcare significantly expanded under Bansk Group’s ownership following its acquisition of PetIQ in 2024, becoming one of the largest mobile veterinary care platforms in the United States.
Chris Kelly, Senior Partner at Bansk Group, said the company viewed PetIQ as an opportunity to build a category leader in pet health and wellness. He noted that Bansk worked closely with management to scale VIP Petcare while helping PetIQ strengthen its position as a brand-led pet wellness company.
PetIQ CEO Camillo Pane said the transaction positions the company for its next stage of growth and highlighted Bansk’s role in expanding VIP Petcare into a leading mobile veterinary care platform.
William Blair served as financial advisor to Bansk Group and PetIQ, while Davis Polk acted as legal counsel. Centerview Partners served as financial advisor to Tractor Supply Company, and Sidley Austin served as legal counsel.
Founded in 2019, Bansk Group is a consumer-focused private investment firm managing more than $5 billion in assets. The firm focuses on investments across personal care, consumer health, food and beverage, and household products.
Headquartered in Idaho, PetIQ develops, manufactures, and distributes branded pet medications and wellness products focused primarily on flea and tick treatments, dental treats, and nutritional products for companion animals.
KEY QUOTES:
“Bansk’s strategy is centered around building exceptional brand-led consumer businesses and when we acquired PetIQ, we saw the opportunity to help shape a category leader in pet health and wellness. Since then, we’ve partnered closely with PetIQ leadership to enhance and scale VIP Petcare into the largest mobile veterinary care business in the country, while also accelerating PetIQ’s vision to become the leading brand-led pet health and wellness company. Tractor Supply’s acquisition is exactly aligned with the outcome our value creation playbook is designed to produce, and it is a reflection of our ability to build distinctive businesses that attract best-in-class strategic acquirers. We look forward to continuing to work with the PetIQ team to accelerate the growth of its core brands and products business, where we see significant runway ahead.”
Chris Kelly, Senior Partner, Bansk Group
“This transaction marks an exciting new chapter for PetIQ, and we are well-positioned to realize our full potential as a leading brand-led pet health and wellness company. Bansk’s partnership was instrumental in scaling VIP Petcare into the nation’s preeminent mobile veterinary care business, and this outcome is a testament to what we built together. We are confident in what the team will continue to build as part of Tractor Supply Company.”
Camillo Pane, Chief Executive Officer, PetIQ
