Today the largest private-equity buyout of the year happened when PetSmart Inc. agreed to sell their company. PetSmart agreed to sell to a group led by BC Partners Inc. for about $8.25 billion. PetSmart began considering a buyout since last summer due to pressure from shareholders. Recently struggling companies have been more inclined to undergo mergers-and-acquisitions, as opposed to a full buyout. PetSmart was founded in 1987, with roughly 1,350 stores nationwide. It was a location to purchase any of your desired pet needs for any pet across the board. However, consumers have been changing their purchasing habits to a more convenient manor. Now consumers are more likely to buy animal needs online. The internet has taken over the consumer industry, and now is the most dominant factor and competitor with retailers. 

BC Partners Inc. agreed to a deal of $83 a share. PetSmart Inc's investors were allowed to hold the majority of their stake in the company during this takeover. For example, Longview Asset Management LLC, who has been a major investor since the launch of PetSmart, controlled 9% of the company and will continue to hold some of that under the new deal. 

This buyout could just be one of many upcoming for struggling retailers. When retailers compete with the internet, the retailers lose. The rate of convenience, discount, and expedited shipping cannot be compared. The only factor that retailers are hoping to retain is the personal shopping experience, and the ability to sample out goods before actually purchasing them. it will be interesting to see how retailers try to react and compete with the booming internet shopping. 

Source: http://www.wsj.com/articles/petsmart-to-be-acquired-by-investor-group-led-by-bc-partners-1418591002