Leon Black’s Apollo Global Management is nearing a buyout of a retail chain operating PetSmart for about $8 billion, Bloomberg said it would be the largest leveraged deal for a U.S. company this year.
“New York-based Apollo is in late-stage talks to buy PetSmart for about $8 billion following an auction process that has been under way for weeks, said one of the people, who asked not to be identified because the talks are confidential,” Bloomberg said.
It said the pet-supplies retailer has a market value of $7.72 billion. A private-equity deal with Apollo would top Blackstone Group LP’s <bx.n> $5.4 billion purchase of industrial-products maker Gates Global LLC in July, Bloomberg said.
Tags: Private Equity, Private Equity Firm, Private Equity Group, Private Equity Company, Private Equity Fund, Private Equity Investment, Private Equity Investor, Fund of Fund, Private Equity Business, Private Equity Industry, PE, Leon Black, Apollo Global Management, LLC, Buyout, Buyout Fund, Leveraged Buyout, LBO, Buyout Firm, New York, New York Private Equity, Bloomberg, Blackstone Group LP, Gates Global LLC.