BC Partners Completes $8.7B Mega Buyout of PetSmart
March 12, 2015
A consortium led by BC Partners has completed its previously announced $8.7 billion ($83 per share) take-private buyout of PetSmart. The transaction represented an approximately 39% premium to PetSmart's closing share price on July 2. The deal also represents a 9.1x multiple of PetSmart's adjusted EBITDA for the 12 months that ended November 2. Employing roughly 54,000 associates and operating nearly 1,400 stores, the company offers products and services that include pet food, dog training and pet grooming, as well as in-store day care and adoption services.