Caisse-backed PetSmart to buy online pet retailer Chewy

U.S. specialty pet retailer PetSmart Inc has acquired Chewy Inc, an online retailer of pet food and products based in Dania Beach, Florida. No financial terms were released; however, Recode reported the deal's value to be US$3.35 billion. It is expected to close later this year. PetSmart, which is based in Phoenix, Arizona, said Chewy’s e-commerce model complements its store footprint and other offerings. PetSmart was acquired in 2015 by a consortium led by BC Partners. Caisse de dépôt et placement du Québec, a Canadian pension fund, was among the investors.

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