Tractor Supply (NASDAQ: TSCO), to Acquire Allivet
Tractor Supply Company (NASDAQ: TSCO), the largest rural lifestyle retailer in the United States (the “Company”), today announced it has signed a definitive agreement to acquire Allivet, a privately held online pet pharmacy. The acquisition of Allivet will complement and strengthen Tractor Supply’s portfolio offering for companion animals, equestrian and livestock customers and unlock new opportunities for growth. This acquisition will also allow the Company to introduce a convenient, low-cost pet and animal pharmacy solution for its 37 million Neighbor’s Club members.
Compelling Strategic Benefits to Tractor Supply
Creates significant opportunity to gain share of wallet with its 37 million Neighbor’s Club members, approximately 75% of whom are pet owners
Complements and strengthens existing product and services offering
Expands the Company’s total addressable market by $15 billion
Solidifies longstanding partnership between companies
Leverages strong financial profile of Allivet with expected diluted earnings per share accretion in year one
The Company anticipates leveraging its store footprint and digital offerings to expand Allivet’s reach and sales opportunity. For the last several years, Allivet’s PetRx platform has been a partner with Tractor Supply to offer digital pet pharmacy service under the Tractor Supply brand.
Since its founding in 1992, Allivet has grown to be a leading online pet pharmacy fully licensed in all 50 states with three distribution centers that allow it to efficiently serve the needs of its customers and reach a large majority of the U.S. with next day delivery. Allivet has a proven platform to make pet parenting easier by providing convenient access to brand-name medications, expert pharmacy advice and automatic delivery with its auto-ship program.
“We are pleased to announce the acquisition of Allivet, a leading online pet pharmacy. This acquisition enhances the benefits we can offer to our 37 million Neighbor’s Club members with an easy and cost-effective solution to obtain medications and specialty items for their pets and livestock. Allivet is a best-in-class platform with an exceptional management team and a robust financial profile. This strategic tuck-in acquisition exemplifies our commitment to delivering value and growth as we expand our total addressable market. We look forward to welcoming the Allivet team to Tractor Supply,” said Hal Lawton, Tractor Supply’s president and chief executive officer.