The company was founded in 1965 as a mail-order business selling veterinary supplies. The company was acquired in 2000 by Leonard Green & Partners and TPG Capital. Followed failed discussions between Petco and PetSmart over a merger, CVC Capital Partners and the Canada Pension Plan Investment Board agreed in November 2015 to acquire Petco in a deal worth $4.6 billion (USD).

In 2004, Petco bought the naming rights to San Diego's then-new downtown baseball stadium, making it Petco Park. The company agreed to pay the San Diego Padres about $60 million over a period of 22 years. At the time, it was one of the highest prices paid for naming rights to a baseball park. Jim Myers had been the chairman and CEO of the company since 2004, having been with Petco since 1990. In 2016, he announced his retirement, and was succeeded by company president and chief merchant Brad Weston.

In 2011 Petco opened a 116,000 square-foot corporate support centre in San Antonio. The facility houses approximately 400 employees and will operate in conjunction with a corporate support centre in San Diego. In June 2018, Ron Coughlin, a veteran Hewlett-Packard and PepsiCo executive, took over as CEO.

In August 2018, a partnership was signed with Canadian Tire to begin selling Petco's private label brands of pet food and accessories at its 500 Canadian stores, bringing Petco to the Canadian market for the first time.

Petco partners with the following brands: Royal Canin, Seresto, Pro Plan, Tiki Cat, Acana, among many others.

Petco website has a special section for sales according to stock availability.

Petco's top competitors include VCA, Chewy, Pet Valu,Petco,PET SUPPLIES PLUS and PetSmart.

Petco offers their loyal customers to apply for a Petco Credit Card which will let them earn more points for discounts and rewards. Also, it gives first time users a 20% off their first purchase.

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The brochures and catalogs contain the best weekly, monthly and yearly promotions, with offers and discounts available today in stores. To check the updated prices you can also browse the official website online: https://www.petco.com/shop/en/petco store