PetMeds acquires PetCareRx for $36M cash; adds ~200K customers, ~$42M revenue

PETMED EXPRESS INC

All-cash deal $36M plus working capital adjustments; expected close Q1 2023.
PetCareRx contributed ~$42M revenue (12 mo. to Oct 2022) and ~200K customers.
Deal adds ~10K incremental wellness products; PetMeds will keep PetCareRx brand separate.
Boards of both companies approved; conditions include regulatory and pharmacy license filings.
Second major transaction in 9 months; follows Vetster investment in Apr 2022.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

PETMED EXPRESS INC entered into Merger Agreement with PetCareRx, Inc. valued at $36 million in cash (effective 2023-01-13).

Action: entry
Agreement: merger
Counterparty: PetCareRx, Inc.
Value: $36 million in cash
Effective: 2023-01-13

Exact text from the filing

On January 13, 2023, PetMed Express, Inc. (the “ Company ”) entered into an Agreement and Plan of Merger (the “ Merger Agreement ”) by and among the Company, Harry Merger Sub, Inc., a New York corporation and a wholly-owned subsidiary of the Company (“ Merger Sub ”), PetCareRx, Inc., a New York corporation (“ PetCareRx ”), and Jeanette Loeb (as representative of the PetCareRx equity holders).

View on SEC.gov

235 material agreements filed in the last 30 days. Browse all material agreements →

PETMED EXPRESS INC filing history →

Source: SEC EDGAR

accession 0001040130-23-000003

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.