Chewy announces $500M repurchase of shares from BC Partners

Chewy announced that it has agreed to repurchase an aggregate of 17,550,000 shares of its Class A common stock, par value $0.01 per share, at a price per share of $28.49, which represents a 5.0% discount to yesterday’s closing price, resulting in an aggregate repurchase price of approximately $500 million from Buddy Chester Sub LLC, which is an entity affiliated with funds advised by BC Partners Advisors LP , Chewy’s largest shareholder. The repurchased shares will be cancelled and retired upon completion of the Repurchase.