Dec. 16, 2020 10:00 pm ET
BarkBox Inc., a startup best known for its monthly subscription service for dogs, is merging with a blank-check company in a $1.6 billion deal, including debt, according to people familiar with the matter.
The acquisition by Northern Star Acquisitions Corp., which is expected to raise $454 million, could be announced as soon as Thursday, they said.
The deal seeks to capitalize on a pandemic-fueled rise in pet adoptions and pet-related spending that led Petco Animal Supplies Inc. to file for an initial public offering, and pushed online pet-supply store Chewy Inc.’s latest quarterly sales up 45% year-over-year.
Spending on gifts for pets are up 21% this year compared with 2019, a bigger jump than spending on gifts for humans, according to a recent report by PricewaterhouseCoopers LLP.
Pet Care E-commerce Market Predicted By Amazon com, Pet smart, Groomers Delight, Walmart , Petmed Express, Desert Online General Trading
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Source: Xinhua|
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NEW YORK, Dec. 10 (Xinhua) U.S. pet retailer Petco Animal Supplies, Inc. has tied up with leading on-demand prepared food delivery platform DoorDash Inc., said Petco on Thursday.
The nationwide partnership would enable Petco to launch same-day delivery service for the first time via its website and app, which are powered exclusively by DoorDash.
The same-day delivery service offers a convenient way to receive everything from dog food to go-to cat litter, said Petco in a release. We re proud to have been chosen by Petco as their exclusive delivery provider, offering pet parents the convenience of same-day delivery through Petco s digital channels for the first time, said Carly Brush, director and general manager of retail fulfillment at DoorDash.