Petsmart Boosts Web Site

Thu., Nov. 16, 2000

Cnet News.Com

Pet supplies retailer Petsmart is taking a bigger bite out of e-commerce. The Phoenix, Ariz.-based company announced Wednesday that it plans to pump $30million into its namesake Web site and take a controlling stake in the operation, increasing its ownership from 48 percent to 81 percent.

The investment includes $20 million cash and the contribution of Petsmart’s pet catalog business, which the company values around $10 million.

Other terms of the transaction, which is expected to close this month, were not disclosed.

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Petsmart Boosts Web Site

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