The Acquisitions: Tractor Supply and Petsense
Tractor Supply Co. may not immediately make one think of pets upon hearing the name. However, the rural lifestyle retail company made a huge splash in the pet industry when it announced its acquisition of Petsense in 2016.
What is Petsense?
Petsense was a privately-owned pet supply company with more than 160 retail locations spread across the United States. Founded in 2005, Petsense offered a wide selection of pet products and services that catered to the needs of dogs, cats, birds, and other pets. The company's mission was to provide quality pet products at affordable prices, all while creating a welcoming environment for pet owners.
The Acquisition
Tractor Supply's acquisition of Petsense was a strategic move for the company. By adding Petsense to its portfolio, Tractor Supply was able to diversify its product offerings beyond the traditional farming and ranching supplies that it's known for and enter a fast-growing, $60 billion pet industry. The acquisition allowed Tractor Supply to appeal to a broader customer base and expand its retail reach. Petsense also offered a complementary business model for Tractor Supply, as both companies share a customer-centric culture with a focus on providing exceptional customer service.
What Happened Next?
Since the acquisition, Tractor Supply has made some significant changes to Petsense's operations. Stores have been remodeled to emphasize Tractor Supply's branding and create a more cohesive look. The company has also integrated some of its own products into Petsense's inventory, including its in-house brand, Retriever, which offers a range of pet products, including dog food, toys, and kennels. While these changes may be jarring for some long-time Petsense customers, they have allowed the company to improve and expand its offerings even further.
The Future of Petsense and Tractor Supply
Tractor Supply's acquisition of Petsense was a smart move that has allowed the company to tap into a huge market. Petsense continues to operate under its own name, and Tractor Supply has made it clear that it intends to retain the company's culture and identity. The acquisition has allowed Tractor Supply to explore new business opportunities, while still maintaining its commitment to providing excellent customer service, quality products, and affordable prices. It's safe to say that this acquisition has been a win for both Tractor Supply and Petsense, and we can't wait to see what they have in store for the future.