(Reuters) -- Private equity firm CVC Capital Partners Ltd. and Canada Pension Plan Investment Board (CPPIB) are nearing a deal to acquire Petco Animal Supplies Inc., valuing it at around $4.7 billion, including debt, according to people familiar with the matter. CVC's and CPPIB's consortium outbid other buyout firms in an auction for Petco and are now finalizing terms with the U.S. pet retailer's owners, private equity firms TPG Capital LP and Leonard Green & Partners LP, the people said on Sunday.

The sources cautioned that the deal had not yet been finalized and asked not to be identified because the negotiations are confidential. TPG declined to comment, while Petco, CVC, CPPIB and Leonard Green did not immediately respond to requests for comment.

(Reporting by Lauren Hirsch and Greg Roumeliotis in New York; Editing by Jonathan Oatis)