Bansk Group completed the acquisition of 100% of PetIQ in an all-cash public-to-private transaction. PetIQ was delisted from Nasdaq upon closing and is now operated as a privately held company, with founder Cord Christensen continuing as CEO. The existing executive management team will continue to operate the business independently. The strategic rationale centres on accelerating PetIQ's mission of providing convenient and affordable pet healthcare, investing in marketing and innovation, and pursuing strategic bolt-on acquisitions — initiatives that Bansk believes are better executed outside the constraints of public market ownership.

PETIQ, which reported an EBITDA margin of LOGIN in 2023, is valued in this transaction at an EV/EBITDA multiple of LOGIN, representing a LOGIN discount to the average currently observed in the Healthcare & Pharma sector (13.3x).

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