CD&R and asset management company TPG Capital will acquire all outstanding shares of Covetrus. CD&R and its affiliates currently own 24% of the stock. The deal is expected to close in the second half of 2022. The amount will be $4 billion, or $21 per share.

The loss of Covetrus under GAAP for the 3 months of 2022 was $2 million, down 8 times from $16 million in the previous year. Revenue increased 4.2% to $1.148 billion from $1.102 billion a year earlier.

Covetrus' GAAP loss for 2021 was $54 million, up 3.2 times from $17 million in the previous year. Revenue increased 5.4% to $4.575 billion from $4.339 billion a year earlier.

Covetrus reported a GAAP loss of $51 million for 9M 2021, up 3.6x from $14 million in the previous year. Revenue increased by 7.3% to $3.453 billion from $3.217 billion a year earlier.