D.A. Davidson announced today that it served as exclusive
sell-side financial advisor to Allivet, Inc. (“Allivet” or the
“Company”), an online pet pharmacy that sells medications,
supplements, and other products for pets, on its pending sale to
Tractor Supply Company (NASDAQ: TSCO) (“Tractor Supply”).
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D.A. Davidson announced today that it
served as exclusive sell-side financial advisor to Allivet, Inc.,
an online pet pharmacy that sells medications, supplements, and
other products for pets, on its pending sale to Tractor Supply
Company (Graphic: Business Wire)
Allivet, a portfolio company of Peninsula Capital Partners, is a
leading pet pharmacy founded in 1992, and provides quality
prescription and over-the-counter pet medications. The Company also
provides strategic partnership solutions to customers through
retail and e-commerce channels. Allivet’s market pioneering
'PetRx-as-a-Service' platform is growing rapidly with marquee
partners such as Tractor Supply, American Kennel Club (AKC), Fetch
Pet Insurance, and others. Allivet is a pharmacy at the core, and
its mission is to ensure better long-term health outcomes for pets
by providing convenient access to pet medications, making
compliance easier, and supporting pet owners with expert advice and
reliable service.
For more than 85 years, Tractor Supply Company has been
passionate about serving the needs of recreational farmers,
ranchers, homeowners, gardeners, pet enthusiasts, and all those who
enjoy living “Life Out Here”. Tractor Supply is the largest rural
lifestyle retailer in the U.S., ranking 293 on the Fortune 500. Its
50,000 team members are known for delivering legendary service and
helping customers pursue their passions, whether that means being
closer to the land, taking care of animals or living a hands-on,
DIY lifestyle. The acquisition of Allivet will complement and
strengthen Tractor Supply’s portfolio offering for companion
animals, equestrian, and livestock customers and unlock new growth
opportunities.
“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
CEO.
Ujjwal Dhoot, CEO of Allivet said, “We are excited for Allivet
to join forces with Tractor Supply. With Tractor Supply, we can
expand our reach and bring the purpose of our product offering and
website to millions of customers. As part of Tractor Supply, we
will accelerate our growth and innovation to continue to help pets
live long healthy lives by making it easier for pet owners to care
for them.”
“Allivet and its shareholders have done an excellent job
creating a leading ecommerce pet pharmacy, accelerating the
industry and enriching the lives of pets and their owners,” stated
John Jameson, Managing Director at D.A. Davidson. “We greatly
appreciate the opportunity to advise Peninsula Capital Partners on
this important transaction and are excited to see what the Allivet
team and Tractor Supply are able to accomplish for pet owners.”
“Today’s announced acquisition of Allivet is a watershed moment
in Allivet’s long and outstanding history,” said Karl LaPeer,
Senior Partner at Peninsula Capital Partners. “We couldn’t be more
proud of, and excited for, the Allivet team as they begin their
journey as part of America’s iconic rural lifestyle retail brand,
Tractor Supply.”
D.A. Davidson served as exclusive financial advisor and Foley
& Lardner LLP served as legal advisor to Allivet. Debevoise
& Plimpton LLP served as legal advisor to Tractor Supply.
The transaction is subject to customary closing conditions,
including receipt of applicable regulatory approvals. The all-cash
transaction is expected to close in Tractor Supply’s fiscal first
quarter of 2025.
D.A. Davidson’s Consumer Group has a reputation for its depth of
industry knowledge, breadth of capabilities, and tenacity of its
senior professionals. Offering sector-specific expertise through a
full-service platform, the team provides M&A, strategic
advisory, and equity capital markets capabilities across several
subsectors, including ecommerce & marketplaces; active &
outdoor; infant & juvenile; consumer products & services;
and food & beverage. Together with its European strategic
partner, MCF Corporate Finance, D.A. Davidson originates and
executes transatlantic M&A transactions under the brand of D.A.
Davidson MCF International.
About D.A. Davidson Companies
D.A. Davidson Companies is an employee-owned financial services
firm offering a range of financial services and advice to
individuals, corporations, institutions, and municipalities
nationwide. Founded in 1935 with corporate headquarters in Great
Falls, Montana, and regional headquarters in Denver, Los Angeles,
New York, Omaha and Seattle, the company has approximately 1,600
employees and offices in 30 states.
Subsidiaries include: D.A. Davidson & Co., a full-service
investment firm providing wealth management, investment banking,
equity and fixed income capital markets services, and advice;
Davidson Investment Advisors, a professional asset management firm;
and D.A. Davidson Trust Company, a trust and wealth management
company.
For more information, visit dadavidson.com.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20241024673699/en/
Deal Team Contacts John Jameson, Managing Director |
Indianapolis | jjameson@dadco.com Steven Orr, Vice President |
Irvine | sorr@dadco.com Paxton Miller, Associate | Irvine |
pmiller@dadco.com
Media Contact Emily Roy Prosek for D.A. Davidson (646)
818-9232 eroy@prosek.com
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