October 2, 2014
We are pleased to announce that our client PetSmart, one of the largest specialty retailers, has acquired Pet360 for $160 million in cash, inclusive of $30 million of performance-based payments through 2016. Pet360 is an integrated media company dedicated to connecting pet parents with the information, products and advice they need to raise happy, healthy pets. Cascadia served as the exclusive financial advisor to PetSmart in this transaction.
“Cascadia’s industry knowledge and experience in evaluating ecommerce business models uniquely situated us for this assignment,” said Cascadia Capital Managing Director Bryan Jaffe. “Through the acquisition of Pet360, PetSmart has added the premier independent ecommerce player in the pet space to its family of brands.”
The acquisition of Pet360 adds a unique combination of content, commerce and community to PetSmart, underpinned by Pet360’s notable brands, including petMD.com, PetFoodDirect.com, Pet360.com and Only Natural Pet.