PHOENIX – PetSmart Inc. has agreed to acquire online pet products retailer Chewy Inc. for an undisclosed amount. The transaction is expected to close by the end of PetSmart’s second quarter pending customary regulatory approvals.
Founded by Ryan Cohen and Michael Day in 2011, Chewy uses a subscription model to sell an extensive line of pet products. The company will operate as an independent subsidiary of PetSmart with Cohen as CEO. PetSmart operates more than 1,500 stores across North America.
“We are focused on improving our customers’ experience in-store and online as we continue to execute against our long-term strategic initiatives,” Michael Massey, president and CEO of PetSmart, said in a statement. “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. Together, PetSmart and Chewy will provide the most convenient customer experience to a wider base of pet parents across every channel.”
“Since we started Chewy, we have been dedicated to understanding and satisfying the evolving needs of our customers to deliver the highest quality pet products and customer service,” Cohen said. “Combining our strong e-commerce expertise with PetSmart’s best-in-class infrastructure, footprint and breadth of offerings including services will help us ‘wow’ our customers even more.”
