PetSmart acquires for $3.35 billion

By Shawn Knight
Apr 19, 2017
Post New Reply
  1. Walmart can no longer lay claim to the largest e-commerce acquisition ever as that distinction now belongs to PetSmart. On Tuesday, the pet supplies specialist announced intentions to purchase online pet food and products retailer

    Terms of the deal weren’t disclosed although sources reportedly familiar with the transaction tell Re/code the deal is valued at $3.35 billion.

    Walmart, if you recall, shelled out $3.3 billion in cash for last summer.

    Founded in 2011 by Ryan Cohen and Michael Day, Chewy has enjoyed incredible growth in a relatively short amount of time. Last year alone, the company generated revenue of nearly $900 million but was still not profitable.

    PetSmart in a press release said the acquisition accelerates the execution of its strategy and is a critical milestone in its transformational journey to be the most convenient, best-in-class pet retailer. Coming together will enhance both companies’ capabilities and reach, PetSmart said, adding that it’ll offer the widest selection of pet products and services available both in-store and online in North America.

    The acquisition, which is subject to customary regulatory approval, is expected to close by the end of PetSmart’s second fiscal quarter of 2017. PetSmart said it plans to operate Chewy largely as an independent subsidiary that’ll continue to be led by Cohen who currently serves as CEO.

    Image courtesy PetSmart

    Permalink to story.

  2. Uncle Al

    Uncle Al TS Evangelist Posts: 3,321   +1,967

    And the high tech end of this article is what? The fact they do business over the internet??? How long before we start talking about band aids, pain relievers, and hygiene products? Geeezzzeeeee ..... it must be a terribly slow news day!
    p51d007 likes this.
  3. ikesmasher

    ikesmasher TS Evangelist Posts: 2,995   +1,316

    but but its a website! so tech! amirite!

Similar Topics

Add your comment to this article

You need to be a member to leave a comment. Join thousands of tech enthusiasts and participate.
TechSpot Account You may also...