US pet supplies retailer in largest PE deal of the year

New York

THE biggest private equity deal of 2014 - in a year of huge takeovers of cable providers and drug manufacturers - is a bet on the lucrativeness of dog food and catnip.

PetSmart agreed on Sunday to sell itself to a group led by investment firm BC Partners for about US$8.7 billion, months after the retailer came under pressure from two hedge funds.