Foley & Lardner LLP represented PetMed Express, Inc. (NASDAQ: PETS), a leading nationwide pet pharmacy, in acquiring PetCareRx, Inc., a leading supplier of pet medications, food and supplies, for total consideration of approximately $36 million in an all-cash transaction.
The acquisition will expand PETS’ overall addressable market from pet medication to a broader healthcare category leader. PetCareRx adds approximately 10,000 incremental food, diet, and wellness products to PETS’ current product offering. PETS believes it can expand its growth through a broader product catalog and differentiated services.
With the transaction’s closing, the consumer-facing PetCareRx e-commerce operation and the brand will continue to run separately. Customers will continue to enjoy the same service and e-commerce experience, supported by a more efficient distribution network and broader product selection.
The Foley deal team was led by Partners Curt Creely and Jonathan Witt and included Associates Caleb Erbert, Zach Ulewicz, and Kara Sweet, with additional support from Partner Nate Beaver.
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