PetSmart Completes Acquisition of Chewy
PHOENIX - May 31, 2017 - PetSmart, Inc. (“PetSmart”) today announced it completed the
acquisition of Chewy, Inc. (“Chewy”), the nation’s leading online retailer for pet products. The
combination of PetSmart and Chewy creates one of the leading brick and mortar and online pet
retailers, providing the most convenient, high-touch customer experience to serve the needs of
pet parents and pets across every channel.
PetSmart will benefit from Chewy’s e-commerce expertise as it continues its transformational
journey to be the most convenient, best-in-class pet retailer. Chewy will focus on its current
business strategy and have access to PetSmart’s infrastructure and scale.
“We are excited to team up with Chewy,” said Michael Massey, President and Chief Executive
Officer of PetSmart. “The addition of Chewy will help accelerate and drive the success of our
digital strategy and the combination will provide customers with the most convenient
experience and the widest selection of products and services available, both in-store and
online. Ryan and his team bring extensive experience in providing customer-focused solutions
for pet parents across digital channels, a key strategic focus for PetSmart. We look forward to
developing new and innovative offerings and continuing to be the trusted partner to pet
parents and pets.”
Chewy will operate largely as an independent subsidiary of PetSmart. Ryan Cohen will continue
to lead as CEO of Chewy and will serve as a member of PetSmart’s board of directors.
“I am looking forward to working with Michael and the PetSmart team,” said Ryan Cohen, co-
founder and CEO of Chewy. “Our companies have a shared mission centered on a love of pets
and serving pet lovers, which will be the foundation for everything we do together. Chewy will
continue to wow our customers with personalized customer service and speedy delivery of
their pet’s favorite food and supplies.”
As previously disclosed, PetSmart financed the transaction through the offering of $1,350
million of 5.875% senior first lien notes and $650 million of 8.875% senior notes, together with
proceeds of an approximately $1,000 million equity contribution by PetSmart’s existing investor
group and cash on hand.
About PetSmart
PetSmart, Inc. is one of the largest pet retailers of services and solutions for the lifetime needs
of pets. At PetSmart, we love pets and we believe pets make us better people. Every day with
every connection, PetSmart’s passionate associates help bring pet parents closer to their pets
so that together, they can live more fulfilled lives. This vision impacts everything we do for our
customers, the way we support our associates and how we give back to our communities. We