PetSmart is boosting its digital offerings through the acquisition of Chewy, the leading online retailer of pet food and products.
According to Chain Store Age, PetSmart has entered into a definitive agreement to buy Chewy, which offers a wide selection of products for pets. The acquisition is expected to close by the end of PetSmart’s second fiscal quarter of 2017.
“We are focused on improving our customers’ experience in-store and online as we continue to execute against our long-term strategic initiatives,” said Michael Massey, president and CEO of PetSmart, which operates more than 1,500 stores nationwide. “Chewy’s high-touch customer eCommerce service model and culture centered around a love of pets is the ideal complement to PetSmart’s store footprint and diverse offerings.”
After the deal is closed, Chewy, which was founded in 2011, will continue to be led by CEO Ryan Cohen and operate primarily as an independent subsidiary of PetSmart. PetSmart will execute its strategic initiatives across the combined company, with both using their shared innovative capabilities and offerings in order to deliver the most value and convenience to customers.
PetSmart isn’t the only chain in the market expanding its online capabilities, with rival Petco recently acquiring digital PetCoach, a pet advice website and app that helps pet owners take better care of their pets.