Petco plans to acquire Rhinelander’s Drs. Foster and Smith
Petco announced it will acquire Rhinelander based Drs. Foster and Smith according to prnewswire.com. The combination will unite one of the largest pet specialty retailers with one of the largest online pet retailers in the country.
Drs. Foster and Smith, founded in 1983 by three veterinarians, are among the nation’s foremost authorities on pet care and education, with a strong reputation for their scope of veterinary expertise on prescription medications and quality products for dogs, cats, fish, birds, reptiles, horses, pond life and small animals.
“This move underscores our commitment to nurturing the complete health and well-being of animals and further allows Petco to meet the diverse and expansive needs of pet parents,” said Jim Myers, Petco CEO. “As pet lovers first and foremost, our values are perfectly aligned with Drs. Foster and Smith, and we’re confident this new addition to our business will help us continue to offer the very best in products and services to pets and pet parents.”
The acquisition will complement Petco’s existing capabilities in pet health to include prescription services, including prescription diets, preventive care and a broad base of products created by licensed veterinarians.
Dr. Race Foster, Dr. Rory Foster and Dr. Marty Smith’s animal hospitals in Northern Wisconsin were the first in the nation to offer free rabies vaccinations and free spay/neutering services.
Since its beginnings, Drs. Foster and Smith has developed a sterling reputation on the strengths of its top-level customer service, consumer education and competitive pricing, evidenced by tremendous customer loyalty and satisfaction. In 2003, the company began offering a full-service pharmacy that enables customers to fill prescriptions online and by mail-order. The acquisition includes both Drs. Foster & Smith’s prescription services as well as its popular branded products, including joint care supplements, dog and cat foods, dog beds, cat furniture, horse supplies, equine equipment and other pet care essentials.
“At our founding, our intent with Drs. Foster and Smith was to provide pet owners with veterinary advice and quality pet supplies at affordable prices,” said Race Foster, DVM, and Co-Founder of Drs. Foster and Smith. “We believe Petco shares those same values, and we look forward to building on our original mission.”
The acquisition is expected to be completed by early 2015 and is subject to customary closing conditions, including receipt of regulatory approvals. The terms of the deal are not being disclosed.