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Chewy, Inc.

Pet E-commerce / Online RetailFounded 2011
Reviewed by Swet Parvadiya
Company data updated: October 2026

Acquisitions

Chewy Acquisitions

4

Major Deals Covered

$443M

Disclosed Deal Value

What are Chewy's biggest acquisitions?

Chewy's largest disclosed acquisition here is Modern Animal for $400M in 2026. This page covers 4 major deals from 2022 to 2026, each with its price where disclosed and the reason behind it.

Major deals covered
4
Largest deal
Modern Animal ($400M)
First deal
2022
Most recent
2026
CompanyYearPricePurpose
Modern Animal2026$400.0MAnnounced April 8, 2026, Chewy agreed to buy Modern Animal, a technology-led veterinary platform with 29 owned clinics, 24/7 virtual care and a membership model. Chewy said the deal would expand Chewy Vet Care from 18 to 47 locations and add more than $125 million in annualized run-rate revenue.
SmartPak Equine (SmartEquine)2025UndisclosedAnnounced October 30, 2025, Chewy agreed to acquire SmartPak Equine from Covetrus to expand its equine health category with supplements, tack and horse-care products.
SmartPak Equine2025UndisclosedStrengthen position in the equine health market.
Petabyte Technology2022$43.3MProvider of cloud-based practice management software for veterinary clinics.
What companies has Chewy bought?
Major acquisitions by Chewy documented here include Modern Animal (2026), Petabyte Technology (2022), SmartPak Equine (SmartEquine) (2025) and SmartPak Equine (2025).
What is Chewy's most recent acquisition?
The most recent Chewy acquisition documented here is Modern Animal, in 2026, for $400M.

Modern Animal

2026

$400M

Why

Announced April 8, 2026, Chewy agreed to buy Modern Animal, a technology-led veterinary platform with 29 owned clinics, 24/7 virtual care and a membership model. Chewy said the deal would expand Chewy Vet Care from 18 to 47 locations and add more than $125 million in annualized run-rate revenue.

Impact

Chewy expected the deal to be EBITDA-dollar neutral in fiscal 2026 on a pro forma basis and accretive to EPS within the first year after closing. In Q2 fiscal 2026 management said Modern Animal was performing ahead of its assumptions; Modern Animal members are being connected to Chewy Pharmacy fulfillment starting October 2026.

Outcome

Completed in 2026 for about $400 million, per Chewy's Q2 fiscal 2026 earnings call.

Source →

SmartPak Equine (SmartEquine)

2025

Why

Announced October 30, 2025, Chewy agreed to acquire SmartPak Equine from Covetrus to expand its equine health category with supplements, tack and horse-care products.

Impact

SmartPak contributed to Q2 fiscal 2026 sales and added 43,000 customers to Chewy's active count; management said it performed ahead of expectations.

Outcome

The all-cash deal closed in November 2025; terms were not disclosed in the announcement.

Source →

SmartPak Equine

2025

Why

Strengthen position in the equine health market.

Petabyte Technology

2022

$43M

Why

Provider of cloud-based practice management software for veterinary clinics.

Chewy, Inc.'s Growth & Acquisition Strategy

Chewy's growth plan has four parts: deepen Autoship and spend per customer; build a pet health ecosystem combining Chewy Pharmacy, Connect with a Vet and 47 Chewy Vet Care and Modern Animal clinics; expand into adjacent categories such as fresh and frozen food and equine health through SmartPak; and grow high-margin sponsored ads and the Chewy+ membership. Automation and AI are meant to fund this by lowering fulfillment and service costs.

How Chewy, Inc. Makes Money

Chewy is an inventory-led online retailer. It buys pet food, treats, litter, supplies and medications from about 4,000 brands, stocks them in its own fulfillment centers and ships directly to customers. The engine is Autoship: customers schedule recurring deliveries in exchange for a discount on the first order and ongoing savings, which made Autoship customer sales about 83% of fiscal 2025 net sales and 84.6% in Q2 fiscal 2026. Higher-margin layers sit on top of that base: private brands such as American Journey, Frisco and Tylee's, Chewy Pharmacy prescriptions, sponsored ads sold to pet brands, the Chewy+ paid membership, and veterinary services through Chewy Vet Care and Modern Animal clinics.

Chewy Acquisitions FAQ

What companies has Chewy acquired?

Chewy acquired SmartPak Equine (SmartEquine) from Covetrus, closing in November 2025, and veterinary platform Modern Animal in 2026.

How much did Chewy pay for Modern Animal?

Chewy's Q2 fiscal 2026 earnings call described Modern Animal as a roughly $400 million acquisition. It added 29 clinics, expanding Chewy's vet network from 18 to 47 locations and more than $125 million of annualized run-rate revenue.

Why did Chewy buy SmartPak?

SmartPak gave Chewy a leading equine health brand, including supplements and tack, extending its reach beyond dogs and cats. It added 43,000 customers to Chewy's active base by Q2 fiscal 2026.

When did PetSmart acquire Chewy?

PetSmart, owned by BC Partners, bought Chewy for $3.35 billion in 2017.

How was Chewy separated from PetSmart?

BC Partners took Chewy public on the NYSE in June 2019 and later restructured to separate PetSmart and Chewy ownership. BC Partners has since sold Chewy shares through secondary offerings.

Does Chewy buy back stock from BC Partners?

Yes. Chewy has repurchased shares from BC Partners affiliates alongside secondary offerings, including a $100 million purchase tied to the June 2025 $1 billion offering, approved by independent directors.

Does Chewy own a pharmacy?

Yes, rather than executing massive external acquisitions, Chewy aggressively built out its own highly lucrative internal verticals, most notably Chewy Pharmacy (selling high-margin prescription pet meds) and launching pet health insurance.

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Content is for informational purposes only. Not financial advice. Data sourced from SEC filings, annual reports, and public records. See our full disclaimer and methodology.