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PetSmart fetches buyer for $8.7 billion
After weeks of exploring “strategic alternatives,” PetSmart has agreed to be acquired for about $8.7 billion by a consortium led by London-based BC Partners.
"We are pleased to have reached this agreement with BC Partners, which maximizes value for all of our shareholders and best positions PetSmart to continue to meet the needs of pet parents," said Gregory Josefowicz, chairman of PetSmart. "This transaction represents the successful conclusion of our extensive review of strategic alternatives."
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Study – Retail sector to add 30,000 jobs by end of year
San Leandro, Calif. - The U.S. retail sector will add nearly 30,000 jobs through the end of December as the country heads into a strong holiday shopping season. According to a study from HR services provider TriNet, recent job growth in the U.S. retail sector is built on positive consumer confidence, increasing retail spending, and positive job market outlook.
