PHOENIX, April 30 /CNW/ - PetSmart, Inc. (NASDAQ: PETM), today announced
the sale of its State Line Tack equine assets to PetsUnited, the
privately-held holding company for a web-based multi-marketer of pet and
equine products, including dog.com, fish.com and horse.com.
The sale, which closed today, includes the State Line Tack brand,
inventory, customer lists and certain assets. Terms of the deal were not
disclosed. The company announced its plans to exit the equine business in
PetsUnited said it will move the State Line Tack online and catalog
business from Brockport, NY, to its Hazelton, Penn. facility in the next 60
days. However, online and catalog orders and shipping will continue as usual
during the transition period.
PetSmart now will pursue opportunities to sell its 396,000-square-foot
Brockport facility, which includes a warehouse, call center and retail store
located on approximately 32 acres of land. Call center and fulfillment
operations for the company's online pet business (petsmart.com) will move to
an outside e-commerce provider by Sept. 1, and the store will close August 25.
The approximately 240 associates who work at the Brockport distribution center
and call center will be laid off in stages over the next six months as the
company phases out operations. The Brockport facility is expected to be fully
vacated by the end of October.
Lehman Brothers Inc. acted as exclusive financial advisor to PetSmart
with respect to the sale.
PetSmart, Inc. is the largest specialty pet retailer of services and
solutions for the lifetime needs of pets. The company operates more than 908
pet stores in the United States and Canada, a growing number of in-store
PetsHotel cat and dog boarding facilities, and is a leading online provider of
pet supplies and pet care information (www.petsmart.com). PetSmart provides a
broad range of competitively priced pet food and pet products; and offers
complete pet training, pet grooming, pet boarding, doggie day camp and pet
adoption services. Since 1994, PetSmart Charities, Inc., an independent
501(c)(3) non-profit animal welfare organization, has donated more than $52
million to animal welfare programs and, through its in-store pet adoption
programs, has saved the lives of more than 2.9 million pets.
For further information:
For further information: PetSmart Bruce Richardson, 623-587-2177