PetSmart has entered into a definitive agreement to acquire Chewy.com, company leaders announced today. The acquisition is anticipated to close by the end of PetSmart’s second fiscal quarter of 2017. This move will allow PetSmart and Chewy.com to expand each company’s reach and capabilities.
“PetSmart strives to be the trusted partner to pet parents and pets in every moment of their lives,” said PetSmart President & CEO Michael Massey. “We are focused on improving our customers’ experience in-store and online as we continue to execute against our long-term strategic initiatives,” 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. Together, PetSmart and Chewy will provide the most convenient customer experience to a wider base of pet parents across every channel.”
Chewy.com is a leading online retailer and has seen significant growth and a loyal following of pet owners since its founding in 2011. Chewy.com provides a broad assortment of pet supplies through a subscription model that resonated with consumers. Chewy.com’s position in the expanding online channel complements PetSmart’s presence in the brick and mortar realm. PetSmart has more than 1500 store and 55,000 associates across North America.
“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,” said Ryan Cohen, co- founder and CEO of Chewy.com. “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.”
Upon completion of the acquisition, Cohen will continue to lead and operate Chewy.com as a subsidiary of PetSmart.