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Pet Valu Appoints Sarah Davis and Linda Drysdale to Board of Directors

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MARKHAM, ON, Aug. 12, 2021 /CNW/ - Pet Valu Holdings Ltd. ("Pet Valu" or the "Company") (TSX: PET), the leading Canadian specialty retailer of pet food and pet-related supplies, today announced that Sarah Davis was appointed to the Board of Directors on July 28, 2021, and that Linda Drysdale has been appointed to the Board of Directors effective August 12, 2021.

Pet Valu Logo (CNW Group/Pet Valu Canada Inc.)
Pet Valu Logo (CNW Group/Pet Valu Canada Inc.)

Ms. Davis brings more than 30 years of management experience driving business and operational functions, as well as a strong track record in corporate finance. Most recently, she was the President of Loblaw Companies Limited, where she led the strategic direction and day-to-day operations of Canada's largest retailer and the nation's food and pharmacy leader. Ms. Davis had been with Loblaw in positions of increasing responsibility since 2007, including both as Chief Financial Officer and Chief Administrative Officer, during which time she played a crucial role in transforming the company from a regionally managed grocer into an omni-channel food, health and wellness retailer with $52.7 billion in revenue. Ms. Davis was chair of the Board of PC® Children's Charity and T&T Supermarkets from 2017 until her retirement in 2021. She served as a board member of PC Financial from 2010 until 2021 and continues to sit on the Board of Directors of AGF Investments. Prior to joining Loblaw, Ms. Davis spent 20 years of her career in telecom, at both Rogers and Bell Canada. She holds a Bachelor of Commerce, Honours degree from Queen's University, is a Chartered Accountant and is a Fellow of the CPA.

"We are thrilled to have Sarah join our Board," said Richard Maltsbarger, President and Chief Executive Officer. "In addition to her diverse experience, Sarah has a strong knowledge of corporate governance in publicly traded companies. Her leadership role in transforming a grocer into an omni-channel health and wellness leader in Canada will be instrumental as we continue to enhance our omni-channel infrastructure and capabilities to deliver an exceptional and convenient shopping experience for our customers. We look forward to her unique perspective and believe she will make a great addition to the Board."

"I am delighted to be joining Pet Valu's Board of Directors and to support a market leader with such strong and growing customer loyalty," said Ms. Davis. "As the preferred pet retailer in Canada, creating memorable moments through its expert advice and compelling product offering, Pet Valu is a truly unique story. I look forward to utilizing my knowledge and skills to help Richard and the team drive profitable growth and shareholder value over time."

Ms. Davis replaces Paul House who retired from the Board on the same date, July 28, 2021. Mr. House served on the Pet Valu Board and its predecessor company since June 2010 during which time "he provided countless insights into franchise relationship management and communication, Canadian real estate development, store design, and so much more," according to Richard Maltsbarger. Prior to his Board position with Pet Valu, Mr. House held various leadership positions at Tim Hortons Inc. between 1985 and 2013, including serving as its Chief Executive Officer between 2011 and 2013, Executive Chairman between 2008 and 2013, and as a Director between 2005 and 2014. Mr. House's leadership and board tenure has also included positions with The TDL Group Corp., Dairy Queen Canada, The Tim Horton Children's Foundation, and the Advisory Board of the Brock University Business School. Pet Valu wishes to thank Mr. House for his numerous contributions and honour his long track-record of service.

Effective today, Pet Valu has increased the number of positions on the Board from nine to ten and has appointed to the Board Linda Drysdale, Chief Financial Officer of Interac Corp, Canada's leading payment services provider. Prior to taking this role in 2020, Ms. Drysdale held several positions with increasing responsibility at Canadian Tire, BCE Inc., PwC, and Deloitte & Touche LLP. Ms. Drysdale has over 25 years of extensive knowledge in risk management and audit functions, and a decade of experience reporting to Boards of Directors and Board Audit Committees as a Chief Financial Officer and senior Internal Audit executive. She holds a Bachelor of Arts in Economics from the University of Waterloo and a Graduate Diploma in Accounting from Wilfrid Laurier University.

Mr. Maltsbarger also warmly welcomes Ms. Drysdale to the Board. "Linda brings tremendous expertise in the audit and finance functions for complex organizations and interactions with their boards. Her experience will provide tremendous benefit to Pet Valu as we continue our journey as a publicly traded company. We look forward to her unique perspective and believe she will make a great addition to the Board."

"I am delighted to join the Pet Valu Board," said Ms. Drysdale. "Pet Valu has a long history of serving Devoted Pet Lovers and driving strong financial performance. They are in an exceptionally exciting time, having re-entered the public capital markets, and I look forward to utilizing my experience to help the team develop the business further."

About Pet Valu

Pet Valu is Canada's leading retailer of pet food and pet-related supplies with over 600 corporate-owned or franchised locations across the country. For more than 40 years, Pet Valu has earned the trust and loyalty of pet parents by offering knowledgeable customer service, a premium product offering and engaging in-store services. Pet Valu's neighbourhood stores offer more than 7,000 competitively-priced products, including a broad assortment of premium, super premium, holistic and award-winning proprietary brands. To learn more, please visit: www.petvalu.ca.

Forward-Looking Information

This news release contains "forward-looking information" within the meaning of applicable securities legislation, which reflects the Company's current expectations regarding future events. Forward-looking information is based on a number of assumptions, and is subject to a number of risks and uncertainties, many of which are beyond the Company's control. Unless otherwise noted or the context otherwise indicates, the forward-looking information contained in this news release is provided as of the date of this news release and Pet Valu does not undertake any obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required under applicable securities laws.

SOURCE Pet Valu Canada Inc.

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