Deals
PetSmart to Acquire Online Pet Store Chewy in E-Commerce Push
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PetSmart Inc. agreed to acquire Chewy Inc., one of the fastest-growing online pet supply stores.
The companies declined to comment on terms of the deal. Chewy said in November that it wasn’t profitable but expected to increase revenue to $1.5 billion this year. The company has raised more than $230 million from BlackRock, the venture capital arm of T. Rowe Price and other investors.