- Transaction follows effort to take PetSmart public via SPAC
- Buyout firms eye pet-care sector, new ways to monetize assets
BC Partners has agreed to sell a minority stake in PetSmart to Apollo Global Management Inc., having shelved plans to take the North American pet retailer public last year.
London-based BC Partners will retain a majority holding in PetSmart alongside Singaporean sovereign fund GIC Pte and the company’s management, according to a statement reviewed by Bloomberg News. Financial details weren’t disclosed.