Petco plans new acquisition

The leading American pet speciality retail chain Petco has announced its intention to acquire Drs. Foster and Smith, a leading veterinary-owned online pet supply company. Drs. Foster and Smith is well regarded for its leadership in pet care and education, and its expertise in prescription medications for pets of all kinds. Drs. Foster and Smith was founded in 1983 by a group of four veterinary clinics wanting to help pets live healthier lives, and its annual revenue is estimated to be $ 250 mio. Petco reported around $ 3.3 bn in sales for 2013. The acquisition is expected by early 2015. The terms of the deal will not be disclosed.