PetSmart to Acquire Online Pet Store Chewy in E-Commerce PushBy
The companies declined to comment on terms of the deal. Chewy said in November that it wasn’t profitable but expected to increase revenue to $1.5 billion this year. The company has raised more than $230 million from BlackRock, the venture capital arm of T. Rowe Price and other investors.
PetSmart is among the largest pet retailers in North America, with more than 1,500 stores. The company is owned by BC Partners LLP, a London private equity firm. Chewy was founded in 2011 and has attracted some 3 million customers.