Chewy to Acquire SmartEquine, Expanding Leadership in the Equine Health Category
Chewy, Inc. (NYSE: CHWY) (“Chewy”), a leader in pet food, supplies and healthcare, announced today it has entered into a definitive agreement to acquire SmartPak Equine, LLC (“SmartEquine”) from Covetrus, Inc.
SmartEquine, which rebranded from SmartPak in July 2025, is a leading U.S. provider of equine health products. The company is recognized for its proprietary subscription-based supplement programs, personalized nutrition plans, and broad portfolio of tack, gear, and therapeutic products designed to meet the unique needs of every horse and rider.
This acquisition strengthens Chewy’s position as a leader in the equine category and accelerates the company’s expansion into higher-margin health and wellness verticals. By combining SmartEquine’s premium product portfolio and loyal customer base with Chewy’s unmatched logistics, innovation, and customer service, Chewy will deliver a differentiated and comprehensive value proposition to equine customers nationwide.
Key expected benefits to Chewy include:
- Category Expansion and Margin Growth: Enhances Chewy’s product mix with a broader offering in the high-margin equine supplements segment.
- Recurring Revenue Synergies: SmartEquine’s subscription model aligns with and strengthens Chewy’s recurring revenue base.
- Customer Lifetime Value Growth: Expands Chewy’s opportunity to increase share of wallet among a passionate and underserved customer segment.
- Financial Accretion: The transaction is expected to be adjusted EBITDA margin accretive upon closing.
“We are thrilled to welcome SmartEquine to Chewy,” said Mita Malhotra, President, Chewy Health. “Together, we’ll bring even greater expertise, convenience, and care as a trusted destination for the equine community.”
The transaction is subject to regulatory approvals and other customary closing conditions and is expected to close in Chewy’s fourth quarter of fiscal year 2025. The deal is an all-cash transaction that Chewy anticipates financing through its existing balance sheet.
Reaffirms Third Quarter Financial Outlook
Chewy reaffirms its third quarter fiscal year 2025 financial guidance as provided on September 10, 2025 as part of its second quarter earnings release.
Our guidance is based on certain assumptions, including current expectations regarding the impact of general economic conditions, and is subject to various risks and uncertainties applicable to all forward-looking statements in this communication. See “Forward-Looking Statements” for more information.
About Chewy
Our mission is to be the most trusted and convenient destination for pet parents and partners everywhere. We believe that we are the preeminent online source for pet products, supplies and prescriptions as a result of our broad selection of high-quality products and services, which we offer at competitive prices and deliver with an exceptional level of care and a personal touch to build brand loyalty and drive repeat purchasing. We seek to continually develop innovative ways for our customers to engage with us, as our websites and mobile applications allow our pet parents to manage their pets’ health, wellness, and merchandise needs, while enabling them to conveniently shop for our products. We partner with approximately 3,200 of the best and most trusted brands in the pet industry, and we create and offer our own private brands. Through our websites and mobile applications, we offer our customers approximately 130,000 products and services offerings, to bring what we believe is a high-bar, customer-centric experience to our customers.
About SmartEquine
SmartEquine, formerly known as SmartPak, is the #1 equine health brand dedicated to helping every horse live its best life every day. For more than a quarter of a century, SmartEquine has earned the trust of riders and veterinarians through science-backed supplements, innovative delivery systems, and world-class customer care. Believing every horse is One of a Kind, SmartEquine delivers personalized solutions that make daily care easier and more precise. Its signature SmartPak supplement feeding system provides the ultimate in accuracy and control - so horses get exactly what they need, every day. Beyond supplements, SmartEquine offers a complete wellness portfolio that includes grooming, tack, barn essentials, and therapeutic products - everything horse owners need to support health, comfort, and performance. Driven by a passion for horses and a commitment to innovation, SmartEquine continues to set the gold standard in equine health and wellness.
Source: www.chewy.com
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