PetSmart Acquires Pet360

PetSmart has acquired online pet products retailer and integrated media company Pet360 for $130 million to ramp up its e-Commerce business. The transaction is expected to close later this month. 

PetSmart President and CEO David Lenhardt believes the acquisition will help give PetSmart a leg up in the online market as its customers will be provided with seamless access to the Pet360 e-Commerce site, digital media programs and content sites. 

"We are delighted to announce our planned acquisition of Pet360, the most comprehensive online resource for pet parents," said Lenhardt. "Although online sales are still a relatively small part of the pet products industry, we expect them to become a more relevant source of revenue in the future. Combining PetSmart's unparalleled strengths in traditional outlets with Pet360's established digital footprint will perfectly position PetSmart to capitalize on this evolution and serve pet parent's across all distribution channels." 

READ MORE: PetSmart Acquires Pet360, Increases Net Income By 5.1%