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PetSmart to acquire Chewy.com

Discussion in 'Doberman Health and News Articles' started by Rits, Apr 18, 2017.

  1. Rits

    Rits Admin Administrative Staff Moderator Hot Topics Subscriber

    PetSmart, Inc. today announced it has entered into a definitive agreement to acquire Chewy, Inc., the online pet retailer. The acquisition accelerates the execution of PetSmart’s strategy and is a critical milestone in its transformational journey in meeting its goal of being the most convenient, best-in-class pet retailer. The combination of PetSmart and Chewy will enhance both companies’ capabilities and reach, offering the widest selection of pet products and services available both in-store and online in North America. The acquisition, which is subject to customary regulatory approvals, is expected to close by the end of PetSmart’s second fiscal quarter of 2017.


    “PetSmart strives to be the trusted partner to pet parents and pets in every moment of their lives,” said Michael Massey, president and chief executive officer of PetSmart. “We are focused on improving our customers’ experience in-store and online as we continue to execute against our long-term strategic initiatives. 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 is one of the leading online retailers of pet products and has seen extraordinary growth since it was founded by Ryan Cohen and Michael Day in 2011. Chewy’s position in the growing, underpenetrated online pet retail segment complements PetSmart’s strong footprint in brick and mortar, with over 1,500 stores and 55,000 dedicated associates across North America. In addition to providing a “wow” customer experience, Chewy’s extensive product selection and subscription model have attracted and retained a significant customer base that has contributed to the growth of customer purchasing through online channels.

    “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 Cohen, CEO of Chewy. “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 closing, Chewy will continue to be led by Cohen and operate largely as an independent subsidiary of PetSmart, focusing on its current business strategy, while PetSmart will continue to execute its strategic initiatives across the combined company. Both companies will use their shared innovative capabilities and offerings in order to deliver the most value and convenience to customers.

    Both companies share a common goal to improve the lives of pets and people, dedicating significant time and resources to nonprofit animal welfare organizations. PetSmart Charities is the leader in pet adoptions, having facilitated more than 7 million adoptions since 1994, and the largest funder of animal welfare in North America. This organization is complementary to Chewy’s philanthropic efforts, including the Chewy.com Rescue and Shelter Network.

    Financial advisors to PetSmart on this transaction were Citi and Barclays, with Simpson Thacher & Bartlett LLP acting as its legal advisor. Citigroup Global Markets Inc. and Barclays also provided committed financing for the acquisition. Equity financing is being provided by PetSmart’s existing shareholders. Financial advisor to Chewy on this transaction was Allen & Company, with Weil, Gotshal & Manges LLP acting as its legal advisor.

    PetSmart to Acquire Chewy
     
    • Informative Informative x 1
  2. blacknrust

    blacknrust Notable member

    Chewy has great customer service. I hope that doesn't change.
     
    • Agree Agree x 3
  3. Rits

    Rits Admin Administrative Staff Moderator Hot Topics Subscriber

    I feel leery about this... I like that Chewy will still be led by the current CEO of Chewy but yeah, just can't help but be hesitant about this. Hopefully the positives of Chewy doesn't get messed up by big business.
     
    • Agree Agree x 5
  4. AresMyDobie

    AresMyDobie Hot Topics Subscriber $ Forum Donor $

    That's my fear as well, I ordered from chewy almost weekly ( I have a problem, I know) but you can't beat their customer service, speed, and prices. I really hope petsmart doesn't screw it up.
     
    • Agree Agree x 4
  5. Victor Pastrami

    Victor Pastrami Novitiate

    Hi there,

    I am a current Chewy customer service rep. I'm using an alias so that anything I post here isn't linked back to me.

    We were all surprised and had many questions today when we came into work and checked our email inbox to see Ryan Cohen announcing the acquisition. I can let everyone know that we are going to be staying 100% Chewy. Petsmart is going to help us to grow and expand even further. We are and will continue to be the top dog in online pet retail, and none of us have any plans of changing our fantastic customer service and overall Chewy experience. We love and believe in what we do, and the people at the helm are some of the coolest non suit and tie leaders including Ryan.

    I can answer questions about this or anything about how pawsome it is to work at Chewy. :)
     
    • Like Like x 2
  6. GennyB

    GennyB Moderator Hot Topics Subscriber




    Change can be hard and make most skeptical of how it's all going to affect their life. Questions about customer service, quality and other things always come up. While appreciate you trying to put our fears to rest, I have to say the fact that you are hiding behind an alias gives me pause. Why would you have to do that if you have nothing but positive things about this acquisition?
     
  7. Victor Pastrami

    Victor Pastrami Novitiate

    I agree that it is a massive milestone for us, and there are many questions that only time will be able to answer. In the bigger picture there are definitely massive changes in our future, and this acquisition will help us grow even more! I'm happy that questions about future quality of service are being asked as it is a testament to how high our quality is. We have no plans of lowering quality, but instead we want to increase it!

    For example, Petsmart has built up a massive amount of distribution warehouse infrastructure and has been around for much longer. We would really love to increase accuracy even further in our warehouses and to make our shipping even speedier. Therefore we will be able to learn from their success and they will help us continue to succeed in getting the goodies your pup loves sent right to your doorstep even quicker! There are a lot of exciting possibilities that are in the planning stages, so nothing is concrete yet. But our focus for giving all furry family members and pet parents the highest quality of online service will not change.

    As for the alias, it is a personal preference. There are many reasons I never use a real identity online. We are happy about the news, and we feel that being the top dog in online pet retail joining forces with the top dog in physical retail will bring exciting new opportunities. :)
     
    • Like Like x 2
  8. JanS

    JanS DCF Owner Administrative Staff Moderator Hot Topics Subscriber

    Darn... I have no doubt the customer service and prices will remain great but I'm sure it will be the same as when they purchased Foster & Smith we suddenly had to start paying sales tax and more for shipping, not to mention the lack of fast shipping they used to have.

    Thank you for chiming in and I'm sure there will be questions as this moves forward.
     
  9. Rits

    Rits Admin Administrative Staff Moderator Hot Topics Subscriber

    Nutrisource Petfoods pulling from Chewy (NutriSource Pet Foods)

    " Yesterday we learned of PetSmart’s acquisition of Chewy. Many of you have already reached out to us and our team regarding our thoughts on this development.

    To avoid confusion, we will answer this simply in plain language. We will be parting ways with Chewy.

    For other options to purchase our products please visit www.nutrisourcepetfoods.com, call us toll free at 800-525-9155, email us at info@nutrisourcepetfoods.com or visit us on our Facebook page.

    We will be releasing a comprehensive statement later today. ~ Charlie Nelson, President "
     
    • Informative Informative x 2
  10. Drogon

    Drogon Hot Topics Subscriber

    This feels like Walmart acquiring Amazon.
     
    • Agree Agree x 2
  11. JanS

    JanS DCF Owner Administrative Staff Moderator Hot Topics Subscriber

    I heard over the weekend that PetSmart is in bed with HSUS and PETA so almost everyone is boycotting Chewy now too. I don't know for sure if that's true but a few of them were saying it.
     
  12. Rits

    Rits Admin Administrative Staff Moderator Hot Topics Subscriber

    People are for sure upset with Petsmart because they have a ban on any pit bull type dogs at their doggy day care. I've heard the HSUS/PETA stuff too.
     
    • Informative Informative x 2
  13. JanS

    JanS DCF Owner Administrative Staff Moderator Hot Topics Subscriber

    Wow I didn't know that either. I have ordered from Foster and Smith a few times after they bought them out but I won't be doing that anymore either.
     
  14. LifeofRubie

    LifeofRubie Active Member

    We stopped using Chewy.com because Champion Pet Foods stopped using Chewy.com after the acquisition. Petflow.com has Rubie's food so no bump in the road for us.
     
  15. JanS

    JanS DCF Owner Administrative Staff Moderator Hot Topics Subscriber

    That's right, Fromm did the same so the people I was talking to went to Petflow as well.
     
  16. LifeofRubie

    LifeofRubie Active Member

    Normally I'm not so finicky about stuff like that but Chewy started pushing Blue Buffalo as a replacement food for Acana (what we buy). All the stuff out about Blue Buffalo these days and THAT'S that they're pushing? No thanks. Next.
     
    • Agree Agree x 3
  17. MyBuddy

    MyBuddy Moderator Hot Topics Subscriber

    Is it the same for PetCo?
     
  18. JanS

    JanS DCF Owner Administrative Staff Moderator Hot Topics Subscriber

    That I'm not sure of but they are totally different companies and PetSmart is definitely trying to get the monopoly on the market.
     
    • Agree Agree x 1
  19. Rits

    Rits Admin Administrative Staff Moderator Hot Topics Subscriber

    Nope :)

    Breed restrictions - Can I bring my dog to Petco?
     
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    • Informative Informative x 1

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