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Petco's offer would be paid for in part using stock, whereas PetSmart offered an all-cash bid that would also allow Chewy to remain a completely separate business. [9] In 2017, Chewy was purchased by PetSmart , a retail entity backed by private equity firm BC Partners , [ 10 ] for $3.35 billion, which at the time was the largest ever ...
PetSmart is originally started as Pet Food Warehouse in 1986. The initial two stores opened their doors in 1987 in Phoenix. Jim and Janice Dougherty conceived the idea of a chain of discount pet-food warehouses, and, with the initial financial backing of Phillips-Van Heusen Corporation, incorporated under the name Pacific Coast Distributing in 1986.
Differentiating itself from PetSmart, however, Petco located its stores in different areas, [17] and limited its store size to avoid the warehouse format, [21] among other differentiating factors. [23] [24] Petco Park. In 1997 Petco acquired 104 new stores, [25] in large part from purchasing the competing chain PetCare in the Midwest and South ...
Pets.com's concept was successfully realized by Chewy.com, prompting comparison between the two companies by analysts after Chewy held their IPO in 2019. Chewy's founder Ryan Cohen rejects comparisons to Pets.com, telling Yahoo in 2019, "That is an absolute crazy comparison. I think there’s really nothing in common between those two businesses."
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