PETS News & Events

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Cardone Ventures submitted an unsolicited, non-binding proposal to acquire PetMed Express for $4.25 per share in cash, representing an implied equity value of approximately $89M. The proposal was delivered to the Board of Directors of PetMed Express and is not subject to any financing contingency. The firm said, "Cardone Ventures views PetMeds as a strategically important acquisition that aligns with its core mission of acquiring, operating, and scaling businesses with strong brands and meaningful growth potential. PetMeds' national pet pharmacy platform, customer relationships, fulfillment infrastructure, and regulatory capabilities present a compelling opportunity for operational enhancement under private ownership. Cardone Ventures intends to apply its proven expertise in acquisitions, value creation, leadership development, and execution discipline to improve performance, accelerate growth, and unlock long-term shareholder value." The proposal is non-binding, and there can be no assurance that a definitive agreement will be reached or that the transaction will be consummated.

PetMed Express received an unsolicited and non-binding acquisition proposal from SilverCape Investments to acquire all of the outstanding shares of the Company for $4 per share in cash, subject to various conditions such as due diligence and the execution of a mutually acceptable definitive agreement, but not subject to any financing contingency. The company said, "While PetMeds would typically not publicly comment on privately submitted and non-binding acquisition proposals, SilverCape has publicly disclosed its proposal and the terms thereof in an amendment to its Schedule 13D that was filed with the U.S. Securities and Exchange Commission on December 11, 2025. The PetMeds Board of Directors, consistent with its fiduciary duties and in consultation with its financial and legal advisors, will carefully review and consider SilverCape's acquisition proposal to determine the course of action that it believes is in the best interests of PetMeds and its stockholders. PetMeds notes that SilverCape's letter does not constitute a formal offer capable of acceptance and, as such, stockholders do not need to take any action at this time."

PetMed Express, d/b/a PetMeds and parent company of PetCareRx, unveiled its new Holiday Collection. "With more pet parents treating their furry friends like true members of the family, holiday gifting has shifted toward smart, wellness-oriented products," said Leslie Campbell, CEO at PetMeds. "This collection offers gifts that actually make a difference, offering everything from emergency kits and grooming essentials to DNA tests designed to help pets live longer, healthier lives."