The nation’s biggest pet-supply retailer wants to acquire an online-only pet retailer. By taking ownership of Chewy Inc., PetSmart hopes to accelerate its plan to be “the most convenient, best-in-class pet retailer.
PetSmart has more than 1,500 stores across North America, while Florida-based Chewy.com carries about 30,000 products on its site and boasts 3 million customers.
Earlier this year, Forbes magazine said Chewy controlled 43 percent of online sales of pet food, just behind Amazon’s 48 percent.
In a press release, PetSmart President and Chief Executive Officer Michael Massey said, “Chewy’s high-touch customer e-commerce service model and culture, centered around a love of pets, is the ideal complement to PetSmart’s store footprint and diverse offerings.”
PetSmart is expected to acquire Chewy by July, pending regulatory approval. Terms of the deal were not disclosed.
