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Buyout Closes for PetSmart

Buyout Closes for PetSmart

PetSmart officially changed hands today and acquired new leadership.

A consortium led by BC Partners completed the acquisition of the pet supplies and services company this morning. The deal, announced in December, had been approved by shareholders Friday.

Michael J. Massey was named president and chief executive officer. He replaces David Lenhardt, who joined the company in 2000 and had served as president and CEO since 2013.

Massey, who has more than 25 years of retail experience in the retail industry, including as CEO and president of Collective Brands Inc., the owner of Payless ShoeSource, will be based at PetSmart headquarters in Phoenix.

In a phone interview, Massey said he wants to grow the company’s sales, market shares and profit.

“There are a lot of opportunities within the business,” he said.

AZ Central Article