Simpson Thacher is representing PetSmart, Inc. (“PetSmart”) in connection with a definitive agreement to acquire Chewy, Inc. (“Chewy”). The transaction, which is subject to customary regulatory approvals, is expected to close by the end of PetSmart’s second fiscal quarter of 2017. Financial terms of the transaction were not disclosed.
Chewy is a leading online retailer of pet food and products in the United States. Founded in 2011 by entrepreneurs, Ryan Cohen and Michael Day, Chewy set out to offer pet parents the expertise and service of a local pet store with the convenience of online shopping.
PetSmart is one of the largest pet retailers of services and solutions for the lifetime needs of pets. PetSmart was acquired in 2015 by a consortium led by BC Partners, Inc.
The Simpson Thacher team working on the transaction includes Anthony Vernace, Ravi Purushotham, Sara Campbell and Alvin Kwong (M&A); Ryan Bekkerus (Capital Markets); Jennifer Hobbs, Eli Isak, Adam Moss and Katherine Smith (Credit); Gregory Grogan, Patricia Adams and Christopher Scavone (ECEB); Gary Mandel and Sarah Katz (Tax); Michael Isby and Louise Kruger (Environmental); Marcela Robledo, Linda Nyberg and Marissa Lambert (Intellectual Property); and Peter Guryan, Richard Jamgochian and Preston Miller (Competition).