Petco to acquire Foster and Smith
Posted Dec. 17, 2014
Petco, one of the largest chains of pet stores, announced Nov. 19, 2014, that it has entered into an agreement to acquire Drs. Foster and Smith, one of the largest online retailers of pet supplies.
Petco offers pet supplies and services at more than 1,300 locations. Drs. Foster and Smith offers prescription medications and other products for pets.
According to a press release, the acquisition will complement Petco’s existing capabilities in pet health to include prescription services, including prescription diets and preventive care. Petco’s primary competitor, PetSmart, announced Aug. 19, 2014, a definitive agreement to acquire Pet360, an online source of pet information as well as pet products such as food and prescription medications.
Petco’s acquisition of Drs. Foster and Smith is expected to be completed by early 2015 and is subject to conditions including regulatory approvals. The terms of the deal are not being disclosed.