{"id":4853,"date":"2015-03-23T12:30:55","date_gmt":"2015-03-23T12:30:55","guid":{"rendered":"http:\/\/newsroom.chainstoreguide.com\/?p=4853"},"modified":"2015-03-23T12:30:55","modified_gmt":"2015-03-23T12:30:55","slug":"company-snapshot-petsmart-inc","status":"publish","type":"post","link":"https:\/\/www.chainstoreguide.com\/offthechain\/2015\/03\/company-snapshot-petsmart-inc\/","title":{"rendered":"Company Snapshot: PetSmart Inc."},"content":{"rendered":"

PetSmart: Changes At The Very Top<\/strong><\/p>\n

\u00a0<\/strong>Address<\/strong>:
\n19601 North 27th Avenue
\nPhoenix, AZ 85027<\/p>\n

Telephone<\/strong>:
\n(623) 580-6100<\/p>\n

Internet Homepage<\/strong>:
\nwww.petsmart.com<\/p>\n

Year founded:
\n<\/strong>1987<\/p>\n

Total Stores:
\n<\/strong>1,404<\/p>\n

Total Annual Sales:
\n<\/strong>$7,111,973,000<\/p>\n

Senior Executives:
\n<\/strong>Michael\u00a0J.\u00a0Massey<\/strong>– <\/strong>President and Chief Executive Officer
\nBruce\u00a0Thorn<\/strong>– <\/strong>Executive VP, Store Operations, Services and Supply Chain<\/p>\n

\u00a0 \u00a0\u00a0<\/strong><\/p>\n

On March 6, <\/strong>after its special meeting of stockholders, PetSmart, Inc. became a private company.\u00a0 Stockholders approved the acquisition of PetSmart by a consortium led by BC Partners, Inc. and including La Caisse de d\u00e9p\u00f4t et placement du Qu\u00e9bec, affiliates of StepStone Group LP and Longview Asset Management, LLC. The complex path toward approval of the acquisition formally began last July.<\/p>\n

The price of the acquisition, $8.7 billion, raised many investor eyebrows.\u00a0 It is easily the biggest private equity deal so far this year, easily eclipsing Blackstone’s $5.4 billion acquisition of auto-parts maker Gates Global.<\/p>\n

The seemingly high price tag should be well worth it in the long run.\u00a0 The pet supply market has proved to be strongly recession-proof.\u00a0 At the height of the recession, studies found that many pet owners refused to cut back on purchases for their pets, even as many reduced household costs involving the human members of their families, including spending on food.\u00a0 Thus many non-specialty retailers have increased store space for pet-related products.\u00a0 These prominently include big box discounters, grocers, dollar stores and notably hardware stores and drug chains.<\/p>\n

As PetSmart <\/strong>officially changed ownership and went private, the company also made a leadership move.\u00a0 The retailer has named Michael J. Massey as its President and CEO.\u00a0 Massey replaced David Lenhardt, who stepped down upon the closing of private equity firm BC Partners\u2019s acquisition of the pet supplies retailer.<\/p>\n","protected":false},"excerpt":{"rendered":"

PetSmart: Changes At The Very Top \u00a0Address: 19601 North 27th Avenue Phoenix, AZ 85027 Telephone: (623) 580-6100 Internet Homepage: www.petsmart.com Year founded: 1987 Total Stores: 1,404 Total Annual Sales: $7,111,973,000 Senior Executives: Michael\u00a0J.\u00a0Massey– President and Chief Executive Officer Bruce\u00a0Thorn– Executive VP, Store Operations, Services and Supply Chain \u00a0 \u00a0\u00a0 On March 6, after its special… Continue reading Company Snapshot: PetSmart Inc.<\/span><\/a><\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"post-template-no-sidebar.php","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[3],"tags":[15],"class_list":["post-4853","post","type-post","status-publish","format-standard","hentry","category-discount-specialty","tag-snapshot","entry"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.chainstoreguide.com\/offthechain\/wp-json\/wp\/v2\/posts\/4853","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.chainstoreguide.com\/offthechain\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.chainstoreguide.com\/offthechain\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.chainstoreguide.com\/offthechain\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/www.chainstoreguide.com\/offthechain\/wp-json\/wp\/v2\/comments?post=4853"}],"version-history":[{"count":0,"href":"https:\/\/www.chainstoreguide.com\/offthechain\/wp-json\/wp\/v2\/posts\/4853\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.chainstoreguide.com\/offthechain\/wp-json\/wp\/v2\/media?parent=4853"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.chainstoreguide.com\/offthechain\/wp-json\/wp\/v2\/categories?post=4853"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.chainstoreguide.com\/offthechain\/wp-json\/wp\/v2\/tags?post=4853"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}