Bansk Group Sells PetIQ’s Veterinary Services Business to Tractor Supply Company

Bansk Group, a consumer-focused private investment firm dedicated to building distinctive consumer brands, has announced that its portfolio company, PetIQ, has completed the sale of its veterinary services business, VIP Petcare, to Tractor Supply Company, the largest rural lifestyle retailer in the United States.

Financial terms of the transaction were not disclosed.

Headquartered in Idaho, PetIQ is a leading pet health and wellness company that develops, manufactures and distributes a differentiated portfolio of branded over-the-counter (OTC) pet medications and wellness products – including PetArmor, Capstar, Nexstar, Minties, VetIQ and Rocco & Roxie, among others, available to pet parents through retail and e-commerce channels across more than 60,000 points of distribution nationwide.

The sale of VIP Petcare reflects the substantial growth the business has achieved under Bansk’s ownership since 2024, including establishing itself as the nation’s preeminent mobile veterinary care platform.

“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,” said Chris Kelly, Senior Partner of Bansk Group. “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.”

“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,” said Camillo Pane, Chief Executive Officer of PetIQ. “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.”

“VIP Petcare has been a strong partner in helping us expand access to affordable pet care, and this acquisition builds on the unique combination of assets we have assembled across veterinary services, pet specialty, digital pharmacy and retail stores to better serve the millions of Tractor Supply customers who care for pets and animals, while continuing to support pet parents through VIP Petcare’s broader retail partner network. We believe this transaction strengthens our long-term competitive positioning while leveraging existing infrastructure and customer relationships in a capital-efficient manner,” said Hal Lawton, President and Chief Executive Officer of Tractor Supply. “By bringing together VIP Petcare’s leading veterinary services platform with Tractor Supply’s nationwide footprint, Neighbor’s Club loyalty program and Allivet’s digital pharmacy capabilities, we are creating meaningful opportunities to further leverage our pet care portfolio through a differentiated omnichannel offering. We are incredibly excited to welcome the VIP Petcare team to Tractor Supply as we build the future of pet care together.”

William Blair served as financial advisor, and Davis Polk served as legal counsel to Bansk Group and PetIQ. Centerview Partners served as financial advisor, and Sidley Austin served as legal counsel to Tractor Supply.

Founded in 2019, Bansk Group is a New York-based private investment firm focused on investing in and building distinctive consumer brands. With over $5 billion in assets under management, the firm partners with differentiated brands across four primary consumer categories: personal care, consumer health, food & beverage, and household products.

Bansk’s tenured group of investors and operators have invested more than $30 billion of equity capital across more than 40 transactions with some of the most innovative and well-known consumer companies in the world. With more than three decades of investment experience in the consumer products industry, a global network of relationships, and a tested value creation playbook, Bansk seeks to partner with exceptional founders and management teams to drive outsized organic and acquisitive growth and to position brands for enduring long-term success in the evolving consumer landscape.

For more than 85 years, Tractor Supply Company has been passionate about serving the needs of recreational farmers, ranchers, homeowners, gardeners, pet enthusiasts and all those who enjoy living Life Out Here. Tractor Supply is the largest rural lifestyle retailer in the U.S., ranking 296 on the Fortune 500. The company’s more than 52,000 Team Members are known for delivering legendary service and helping customers pursue their passions, whether that means being closer to the land, taking care of animals or living a hands-on, DIY lifestyle. In store and online, Tractor Supply provides what customers need – anytime, anywhere, any way they choose at the low prices they deserve.