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đź”´ PRIVATE EQUITY OWNED
PetSmart
pet supplies · Phoenix, AZ
PE Firm
BC Partners
Year Acquired
2015
“Your dog's groomer got a pay cut, but BC Partners got a $3.35 billion shopping spree.”
The PE Playbook
- •Dog deaths during grooming doubled under PE ownership — from 15 deaths (2008-2014) to 36 deaths (2015-2021), per NJ.com investigation
- •BC Partners acquired Chewy for $3.35B in 2017, funded by adding $2B to PetSmart's already massive debt load, pushing total debt past $8B
- •Senator Elizabeth Warren questioned BC Partners over deteriorating worker conditions, inadequate training, and increased pet deaths
- •Groomers locked into 'Training Repayment Agreement Provisions' — charged $5,000 if they quit within two years
Since the Acquisition
- ▸Dog grooming deaths more than doubled after BC Partners' 2015 buyout — 15 reported deaths from 2008-2014 vs. 36 from 2015-2021, per NJ Advance Media investigation
- â–¸Workers reported understaffing so severe that store freezers overflowed with dead animals because there weren't enough employees to handle proper disposal
- â–¸Senior groomer and senior trainer positions eliminated at stores, reducing expertise available to customers
- â–¸15% of corporate staff laid off shortly after the acquisition, with an additional 300 home office workers cut in a separate round