Company Backgrounder

Petco’s story began in 1965 when Walter Evans opened a mail-order veterinary supplies business with only five associates called UPCO – United Pharmaceutical Company. The first retail store opened in La Mesa, Calif. in 1976 and was an instant success. The mission then was to buy quality pet and veterinary supplies and sell them directly to animal professionals and the public at discount prices.

With two stores in California, primary customers at that time were ranches, kennels, catteries and grooming shops. In 1979, UPCO changed its name to Petco to better connect the company with the pet supplies business. The first Petco opened just outside of California in 1980 in Tigard, Ore.

Petco’s growth as a major retail player started in 1988, when the company acquired two pet supply chains, WellPoint and the Pet Department, more than tripling the number of Petco stores from 40 to 130 and expanding our footprint into the Washington, Oregon and Texas markets.

In 1994, Petco went public as the largest pet specialty retail chain in the industry, with 218 stores in 13 states and sales of more than $189 million.

With a fast growing nationwide retail business, the company expanded its offerings into Pet Services and rolled out grooming services companywide in 1995. In 1996 Petco hit another milestone, growing to more than 5,000 associates.

By 1997 the chain had grown to 455 stores in 34 states and generated $775 million in annual sales. That same year, the company also launched a cutting-edge customer loyalty program, Petco Animal Lovers Save – PALS. Today, Petco serves millions of loyal PALS members across the country.

In 1999, the Petco Foundation was established to manage and promote charitable giving to animal causes. Today, the Petco Foundation has raised more than $80 million to help more than 7,000 animal welfare partners nationwide. Together, the company and the foundation help find homes for more than 250,000 animals through in-store adoption events every year.

In 2000, a depressed market and undervalued shares led Petco back to private ownership. Still, the following year, the company took its expansive range of products and services to the Web with the launch of petco.com and by 2002 had grown to more than 600 stores in 44 states.

A new partnership with the San Diego Padres kicked off in 2004, with the sponsorship of the brand new ballpark in downtown San Diego, introducing baseball fans worldwide to Petco Park. The company also continued expansion of its Pet Services by offering dog training classes in all stores that year.

Petco celebrated its 40-year anniversary in 2005 and in 2006 grew to 800 stores in 49 states and more than 18,000 associates nationwide. In 2008, the company opened its first store in Hawaii, expanding the chain’s “paw print” into all 50 United States.

In 2009, the company introduced Unleashed by Petco, a smaller format neighborhood shop, and in 2011 opened offices in San Antonio as an extension of its National Support Center headquarters in San Diego.

Today, Petco is privately held and continues to grow, with more than 1,150 stores nationwide, including more than 30 Unleashed by Petco locations and more than 22,000 associates across the country.