Warren Admonishes BC Partners as It Mulls PetSmart SPAC Deal

Senator Elizabeth Warren criticized a reported plan to take BC Partners’ PetSmart public through a blank-check company, saying the deal heightens previous concerns about the retailer and the process.

BC Partners is mulling taking the pet supply retailer public through a special purpose acquisition company backed by private-equity firm KKR & Co. in a deal valued at $14 billion including debt, Bloomberg reported last month.

Warren expressed earlier concerns about BC Partners’s stewardship of PetSmart after a report by advocacy group United for Respect said safety and working conditions had deteriorated since its $8.7 billion leveraged buyout, then the largest ...