PetSmart closes acquisition of online pet retailer Chewy
US-based PetSmart has closed the acquisition of pet products online retailer Chewy, which is expected to improve its footprint both in-store and online in North America.
An agreement was signed in April by PetSmart to acquire Chewy in an effort to achieve its stated objective of becoming the most convenient, best-in-class pet retailer.
According to PetSmart, the amalgamation will create a bricks-and-mortar and online pet retailer that will serve the needs of pet parents and pets across every channel.
With the closure of the transaction now, PetSmart expects to benefit from Chewy’s e-commerce expertise, while Chewy can focus on its current business strategy and have access to PetSmart’s infrastructure and scale.
PetSmart president and chief executive officer Michael Massey said: “The addition of Chewy will help accelerate and drive the success of our digital strategy and the combination will provide customers with the most convenient experience and the widest selection of products and services available, both in-store and online.”
Chewy will largely operate as an independent subsidiary of PetSmart.
Meanwhile, Chewy co-founder and CEO Ryan Cohen will continue in his current role and serve as a member of PetSmart’s board of directors.
PetSmart operates more than 1,500 pet stores in the US, Canada and Puerto Rico.
In addition to pet food and products, PetSmart provides services such as dog training, pet grooming and boarding, as well as PetSmart Doggie Day Camp and pet adoption.