Covetrus Announces a $250 Million Convertible Preferred Equity Investment by Clayton, Dubilier & Rice
Covetrus, Inc. (CVET)
Last covetrus, inc. earnings: 3/3 04:05 pm
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Source: GlobeNewswire
PORTLAND, Maine, April 30, 2020 (GLOBE NEWSWIRE) -- Covetrus (NASDAQ: CVET), a global leader in animal-health technology and services, announced today a $250 million investment from Clayton, Dubilier & Rice (CD&R), a leading private investment firm that has been a significant shareholder of the Company since its formation in 2019 and formerly of its predecessor company, Vets First Choice, since 2015. This additional capital significantly strengthens the Company’s financial profile and enables management to execute against strategic growth objectives. “We are pleased to expand our relationship with CD&R as we look to best position our business and fortify our balance sheet during this period of uncertainty,” said Ben Wolin, Covetrus president and chief executive officer. “We are confident in our strategic plan and the long-term prospects for the animal-health market and believe this investment will position us to further deliver on our growth initiatives and our commitments to our e
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