PetSmart LLC
About PetSmart LLC
Company overview
PetSmart, Inc., founded in 1986, is a leading specialty retailer of pet products and services, headquartered in Phoenix, Arizona. Established by Jim and Janice Dougherty, the company has grown into one of North America's largest pet retail chains, operating over 1,650 stores across the United States, Canada, and Puerto Rico. PetSmart offers a wide range of pet supplies, including food, toys, and accessories, alongside services such as grooming, boarding, and veterinary care. Initially named PetFood Warehouse, the company rebranded to PetSmart in 1989 to reflect its broader focus. Acquired by BC Partners in 2015 for $8.7 billion, PetSmart remains privately held, maintaining a 25% U.S. pet store market share as of 2024. Business/Product Breakdown PetSmart provides a comprehensive suite of pet-related products and services through its retail stores, e-commerce platform (petsmart.com), and strategic partnerships. Its product offerings include pet food, treats, toys, beds, aquariums, and healthcare items for dogs, cats, birds, fish, reptiles, and small animals, catering to diverse pet owner needs. The company emphasizes premium and natural products, aligning with consumer trends toward pet health and wellness. PetSmart's services include in-store grooming salons, PetsHotel boarding facilities, dog training classes, and Banfield Pet Hospital clinics for veterinary care, available in select locations. The company also operates adoption centers in partnership with local shelters, facilitating over 10 million pet adoptions since 1994. Its omnichannel strategy integrates brick-and-mortar stores with online sales, offering same-day delivery, curbside pickup, and subscription services like auto-ship. Strategic initiatives, such as the 2021 Afterpay partnership, enhance customer convenience, while exclusive brands like Arcadia Trail and Top Paw drive profitability. PetSmart's diversified revenue streams and market leadership position it as a one-stop shop for pet owners.
Keywords
Revenue
EBITDA
Valuation
| Line Item | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Revenues | $380 MM | $250 MM | $90 MM | $120 MM | $65 MM |
| Gross Profit | $190 MM | $125 MM | $45 MM | $60 MM | $32.50 MM |
| Net Income (Loss) | $43 MM | $25 MM | $9 MM | $12 MM | $6.50 MM |
| Line Item | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Total Assets | $850 MM | $720 MM | $680 MM | $650 MM | $600 MM |
| Total Liabilities | $450 MM | $400 MM | $380 MM | $350 MM | $320 MM |
| Total Equity | $400 MM | $320 MM | $300 MM | $300 MM | $280 MM |
Ratios
M&A2024-03-15Completed
Investor Sponsors NorthBridge PE | Stake Tags 100% |
Deal Amount $120M | Is PE deal Yes |
Target Company Valuation $1.20 MM | Is deal PE backed Yes |
Techniques Acquisition of Assets, Taken Private | Total Acquired 100% |
Investor Sponsors
Deal Amount
$120M
Target Company Valuation
$1.20 MM
Techniques
Acquisition of Assets, Taken Private
Stake Tags
100%
Is PE deal
Yes
Is deal PE backed
Yes
Total Acquired
100%
Secondary Transaction2023-09-01Canceled
Investor Sponsors -- | Stake Tags Majority |
Deal Amount Undisclosed | Is PE deal No |
Target Company Valuation -- | Is deal PE backed Yes |
Techniques Secondary Sale, Management Buy-out (MBO) | Total Acquired 65% |
Investor Sponsors
--
Deal Amount
Undisclosed
Target Company Valuation
NaN
Techniques
Secondary Sale, Management Buy-out (MBO)
Stake Tags
Majority
Is PE deal
No
Is deal PE backed
Yes
Total Acquired
65%
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