BC Partners, a private equity firm, has agreed to sell a minority stake in PetSmart to Apollo Global Management, another private equity firm. The deal is reportedly worth $1.8 billion, and it will give Apollo a 30% stake in PetSmart.
BC Partners acquired PetSmart in 2015 for $8.7 billion. The company has since grown its revenue and profit, and it now operates more than 1,600 pet stores in the United States, Canada, and Mexico.
Photo by Undine Tackmann on Unsplash
Apollo is a leading private equity firm with over $400 billion in assets under management. The company has a long history of investing in the retail sector, and it is known for its ability to grow and improve businesses.
The deal between BC Partners and Apollo is a sign of confidence in the pet retail industry. PetSmart is the largest pet retailer in the United States, and it is well-positioned to continue growing in the years to come.
Here are some of the key details of the deal:
- BC Partners will sell a 30% stake in PetSmart to Apollo for $1.8 billion.
- Apollo will become a minority shareholder in PetSmart.
- BC Partners will retain a majority stake in PetSmart.
- The deal is expected to close in the fourth quarter of 2023.
The deal is expected to benefit both companies.
- For BC Partners, the deal will provide it with a significant return on its investment in PetSmart.
- For Apollo, the deal will give it a stake in a leading pet retailer with a strong growth potential.
- For PetSmart, the deal will provide it with access to Apollo’s capital and expertise.
The deal is a sign of confidence in the pet retail industry.
PetSmart is the largest pet retailer in the United States, and it is well-positioned to continue growing in the years to come. The deal between BC Partners and Apollo is a sign that investors are bullish on the future of the pet retail industry.
