04:32 AM EDT, 06/27/2024 (MT Newswires) -- Chewy (CHWY) said late Wednesday it has agreed to repurchase $500 million worth of its shares from Buddy Chester Sub, an entity affiliated with funds advised by BC Partners Advisors, the company's largest shareholder.

The deal is for the repurchase of about 17.6 million shares of class A common stock at a price of $28.49 per share.

The buyback, expected to close by Thursday, is in addition to the $500 million share repurchase program the company recently announced.

Price: 29.16, Change: +0.02, Percent Change: +0.05