Utilize the input text as a context reference, choose the right relationship between BC Partners and PetSmart from the options. Options: product/material produced, manufacturer, distributed by, industry, position held, original broadcaster, owned by, founded by, distribution format, headquarters location, stock exchange, currency, parent organization, chief executive officer, director/manager, owner of, operator, member of, employer, chairperson, platform, subsidiary, legal form, publisher, developer, brand, business division, location of formation, creator.

The biggest leveraged buyout of the year was the sale of pet retailer PetSmart Inc. to a BC Partners led consortium for $8.7 billion, including debt.

Answer: subsidiary