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HouTex
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PetSmart is Buying Chewy.com

submitted 292 days ago by HouTex in "Stores / Merchants"

Actual terms were not disclosed, but the reported value of this deal at $3.35 billion would make the sale of Chewy to PetSmart the biggest e-commerce acquisition in history - more than the $3.3 billion Wal-Mart paid for Jet.com last year. After the deal closes, PetSmart said Chewy.com will operate largely as an independent subsidiary. PetSmart is the nation's largest pet-supplies retailer, and Chewy.com is the No. 1 online retailer.
The combination of Phoenix-based PetSmart, with 1,500 stores nationwide, and Chewy, based outside Miami, will enhance both companies' reach, the companies said Tuesday. The acquisition, which is subject to customary regulatory approvals, is expected to close this summer.

"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,” Michael Massey, PetSmart’s president and chief executive, said in the announcement.

Read more at
https://www.forbes.com/sites/s.....6c1d595725
http://www.latimes.com/busines.....story.html
http://fortune.com/2017/04/18/.....ine-chewy/
           

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