D.A. Davidson has announced its role as the exclusive sell-side financial advisor for Allivet, Inc. (“Allivet” or the “Company”), an online pet pharmacy specializing in medications, supplements, and various products for pets, regarding its upcoming sale to Tractor Supply Company (NASDAQ: TSCO) (“Tractor Supply”).
“We are grateful for the chance to advise Peninsula Capital Partners on this significant transaction and are eager to see how the Allivet team and Tractor Supply will benefit pet owners together.”
Allivet, which is part of Peninsula Capital Partners’ portfolio, was founded in 1992 and has established itself as a leading online pet pharmacy. The company offers a wide range of prescription and over-the-counter pet medications and strategic partnership solutions via retail and e-commerce channels. Allivet’s innovative ‘PetRx-as-a-Service’ platform is experiencing rapid growth with prominent partners, including Tractor Supply, American Kennel Club (AKC), and Fetch Pet Insurance. At its core, Allivet is dedicated to improving long-term health outcomes for pets by facilitating convenient access to medications and providing expert support to pet owners.
For over 85 years, Tractor Supply Company has been committed to meeting the needs of recreational farmers, ranchers, homeowners, gardeners, pet enthusiasts, and others who enjoy the rural lifestyle. As the largest rural lifestyle retailer in the U.S., ranking 293 on the Fortune 500, Tractor Supply employs around 50,000 team members who deliver exceptional service while helping customers pursue their passions—be it farming, animal care, or DIY projects. The acquisition of Allivet will enhance and diversify Tractor Supply’s offerings for companion animals, equestrian needs, and livestock customers, while also unlocking new growth opportunities.
“We are thrilled to announce the acquisition of Allivet, a top online pet pharmacy,” said Hal Lawton, President and CEO of Tractor Supply. “This acquisition enables us to provide our 37 million Neighbor’s Club members with an easy and affordable way to obtain medications and specialty items for their pets and livestock. Allivet is a premier platform with an outstanding management team and strong financial performance. This strategic tuck-in acquisition underscores our commitment to delivering value and growth as we expand our market reach. We look forward to welcoming the Allivet team to Tractor Supply.”
Ujjwal Dhoot, CEO of Allivet, expressed enthusiasm for the partnership: “We are excited to join forces with Tractor Supply. With their support, we can broaden our reach and fulfill our mission to help pets live long, healthy lives by making care easier for pet owners.”
“Allivet and its shareholders have done an exceptional job of establishing a leading e-commerce pet pharmacy that enhances the industry and enriches the lives of pets and their owners,” stated John Jameson, Managing Director at D.A. Davidson. “We appreciate the opportunity to guide Peninsula Capital Partners through this important transaction and are excited to see the future achievements of the Allivet team and Tractor Supply.”
“This acquisition marks a significant milestone in Allivet’s distinguished history,” said Karl LaPeer, Senior Partner at Peninsula Capital Partners. “We are incredibly proud of the Allivet team as they embark on this new journey with America’s iconic rural lifestyle brand, Tractor Supply.”
D.A. Davidson served as the exclusive financial advisor, while Foley & Lardner LLP acted as legal counsel for Allivet. Debevoise & Plimpton LLP provided legal advice to Tractor Supply.
The transaction is subject to standard closing conditions, including regulatory approvals. The all-cash deal is anticipated to close during Tractor Supply’s fiscal first quarter of 2025.
D.A. Davidson’s Consumer Group is recognized for its extensive industry expertise, broad capabilities, and dedication from its senior professionals. The team offers M&A, strategic advisory, and equity capital markets services across various subsectors, including e-commerce and marketplaces, active and outdoor goods, infant and juvenile products, consumer services, and food and beverage. Alongside its European strategic partner, MCF Corporate Finance, D.A. Davidson executes transatlantic M&A transactions under the D.A. Davidson MCF International brand.
About D.A. Davidson Companies
D.A. Davidson Companies is an employee-owned financial services firm providing a range of financial services and advice to individuals, corporations, institutions, and municipalities across the country. Founded in 1935 and headquartered in Great Falls, Montana, with regional offices in Denver, Los Angeles, New York, Omaha, and Seattle, the firm employs approximately 1,600 individuals and operates in 30 states.
Subsidiaries include: D.A. Davidson & Co., a comprehensive investment firm offering wealth management, investment banking, equity and fixed income capital markets services; Davidson Investment Advisors, a professional asset management firm; and D.A. Davidson Trust Company, which focuses on trust and wealth management services.
