AHN Highlights:
- Buyer: Chewy, Inc. (NYSE: CHWY)
- Seller: Covetrus, Inc.
- Target: SmartEquine (formerly SmartPak Equine)
- Category focus: Equine health, nutrition, and therapeutic products
- Strategic benefits: Expands Chewy’s equine health portfolio; strengthens recurring revenue; enhances margins via premium supplements
- Expected close: Q4 FY2025
Chewy, Inc. (NYSE: CHWY) has entered into a definitive agreement to acquire SmartEquine, LLC, a leading U.S. provider of equine health products and personalized nutrition programs. Formerly known as SmartPak Equine, SmartEquine rebranded earlier this year following its separation from Covetrus, Inc.
The acquisition enhances Chewy’s leadership in the equine segment and supports the company’s broader strategy of expanding into high-margin health and wellness categories. SmartEquine is best known for its subscription-based supplement packs, customized nutrition plans, and a comprehensive catalog of tack, gear, and therapeutic products for horse owners and riders.
“We are thrilled to welcome SmartEquine to Chewy,” said Mita Malhotra, President of Chewy Health. “Together, we’ll bring even greater expertise, convenience, and care as a trusted destination for the equine community.”
Chewy expects the acquisition to be accretive to adjusted EBITDA margins upon closing, driven by SmartEquine’s subscription model and strong brand loyalty. The company also anticipates synergies in recurring revenue, customer lifetime value, and category expansion through the addition of premium equine supplements and healthcare products.
The transaction, an all-cash deal financed through Chewy’s existing balance sheet, remains subject to regulatory approval and customary closing conditions. It is expected to close in Chewy’s fourth quarter of fiscal 2025.
