PetSmart Reportedly Considers Going Public

PetSmart is looking at a deal that would take the company public, Bloomberg reports.

In the transaction, the company would combine with a “special purpose acquisition company,” or SPAC, backed by KKR & Co., a private equity firm. The SPAC is called KKR Acquisition Holdings I Corp.

PetSmart would be valued at $14 billion in the deal, according to the Bloomberg report. That figure includes debt.

KKR Acquisition went public via an initial public offering in March. It raised about $1.38 billion in the IPO with the goal of looking for a deal in the retail or consumer industries.

BC Partners acquired PetSmart in 2015 for $8.7 billion.