PetIQ gets $145 million term loan commitment for Perrigo purchase

By Wendy Van Sickle

Columbus, Ohio, May 8 – PetIQ, Inc. has a commitment for $145 million of new term loan financing from Ares Capital Management for use in its planned acquisition of Perrigo Animal Health, according to a news release.

PetIQ said it would also draw down on its existing revolving credit facility with East West Bank and use $25 million of cash on hand to purchase the manufacturer of vet quality products for pet parents for $185 million.

The transaction is expected to close during the third quarter of 2019.

Based in Eagle, Idaho, PetIQ is a pet health and wellness company.

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