NewsBusiness

Actions

PetSmart reportedly sniffing out a deal to go public in SPAC merger

PetSmart1.jpg
Posted at 8:47 AM, Jan 24, 2022
and last updated 2022-01-24 10:47:30-05

PetSmart, the pet care retail giant based in Phoenix, is reportedly in talks to go public by merging with a special purpose acquisition company, or SPAC, according to Bloomberg News.

PetsSmart would merge with KKR Acquisition Holdings I Corp., a blank check company created by private equity firm KKR & Co. Bloomberg reported the news on Thursday evening, citing sources close to the matter.

KKR Acqusition Holdings’ stock nudged up slightly to $9.79 at last check of Friday afternoon trading. Follow the stock here.

PetSmart, which has about 1,650 locations across the country, previously traded as a public company, but was taken private in a $8.7 billion buyout by London-based BC Partners in 2015.

Read more of this story from the Business Journal.