India, April 8 -- Chewy Inc. (CHWY) said on Wednesday that it has agreed to acquire Modern Animal Inc., as it looks to accelerate its push into a fully integrated pet healthcare ecosystem.
Modern Animal operates 29 clinics along with 24/7 virtual care and a membership-based model. The acquisition will expand Chewy's veterinary footprint from 18 to 47 locations across the U.S. and is expected to add over $125 million in annualized revenue.
The company said the deal is expected to be EBITDA-dollar neutral in 2026 on a pro forma basis, with contributions to begin in 2027. Mature clinics are generating EBITDA margins above 20% and more than double the industry-average revenue per location.
"Modern Animal perfectly complements our strategy to...