Wag! Announces Agreement to Acquire Dog Food Advisor, a Leading Pet Food Marketplace
January 03 2023 - 3:02PM
Business Wire
Wag! Group Co. (the "Company” or “Wag!”; Nasdaq: PET), which
strives to be the #1 platform for busy pet parents, offering
on-demand access to 5-star pet care, pet insurance options, and
expert pet advice, entered into a definitive asset purchase
agreement (the “Agreement”) with Clicks and Traffic LLC (“Dog Food
Advisor”) to purchase its Dog Food Advisor assets for cash
consideration of $9 million. The transaction, which remains subject
to customary closing conditions, is expected to close during the
first quarter of 2023. Dog Food Advisor is one of the most visited
and trusted dog food marketplaces, helping busy pet parents make
informed decisions about dog food through the website
www.dogfoodadvisor.com.
“It’s hard to imagine a better entrance into the Pet Food and
Treats market than through the digital presence that Dog Food
Advisor has built for over a decade. This acquisition demonstrates
a commitment to our long-term strategic initiatives of measured
expansion, opportunistic mergers and acquisitions, and becoming an
all-inclusive, trusted partner for the premium pet parent,” said
Garrett Smallwood, CEO and Chairman of Wag!. “This is the latest
example of how Wag! is expanding and diversifying its business mix
throughout the pet industry, while continuing to leverage the
unrivaled data that our platform naturally holds.”
Since 2008, Dog Food Advisor, led by Dr. Mike Sagman, has
researched, reviewed and rated more than 5,300 dog food products on
its proprietary website. As a trusted marketplace, they dig into
the details of each dog food, the brand’s recall history and each
company’s safety practices and have uncovered or investigated over
200 dog food and dog treat recall events, creating unmatched
loyalty among pet parents across the globe. As a result, more than
24 million loyal pet parents visited Dog Food Advisor in the last
24 months.
While Wag! has been at the forefront of providing premium pet
parents with a button on the phone for the paw, the acquisition of
Dog Food Advisor will trailblaze a path for Wag! into the $50
billion Pet Food and Treats market. There have been over 12.1
million services completed through the Wag! platform in over 5,300
U.S. cities across all 50 states, covering over 14 million miles on
foot, which provides Wag! with access to data such as breed, age,
average walk distance, and frequency of services. The combination
of access to this digital intelligence combined with the reach of
Dog Food Advisor, holds the promise of propelling Wag! from a
newcomer in the space to a best-in-class partner of personalized
food and treat offerings.
For additional information related to the acquisition, see
Wag!’s Current Report on Form 8-K filed with the Securities and
Exchange Commission today.
About Wag! – Wag.co
Wag! strives to be the #1 platform for busy pet parents,
offering access to 5-star dog walking, pet sitting, expert pet
advice, wellness plans, and one-on-one training from Wag!’s
community of 400,000 local pet caregivers nationwide, in addition
to pet insurance options from the leading pet insurance companies.
Making pet parents happy is what Wag! does best. With safety and
wellness at the forefront, Wag! has a trusted record of experience
with more than 12 million pet care services completed by pet
caregivers on the Wag! Platform, across 5,300 cities and 50 states,
with pet parents rating 96% of services as 5-star. Wag! also
operates Petted.com, the nation's largest pet insurance comparison
marketplace, Furmacy.com, a local pharmacy which supports busy
veterinary clinics, and the Wag! Pet Caregiver App, which empowers
pet caregivers to care for pets in their neighborhood and earn real
money. For more information, visit wag.co.
Forward-Looking Statements
This press release contains certain forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995. Some of the forward-looking statements can be identified
by the use of forward-looking words. Statements that are not
historical in nature, including the words “anticipate,” “expect,”
“suggests,” “plan,” “believe,” “intend,” “estimates,” “targets,”
“projects,” “should,” “could,” “would,” “may,” “will,” “forecast”
and other similar expressions are intended to identify
forward-looking statements. These statements include those related
to the Company’s ability to further develop and advance its pet
service offerings and achieve scale; ability to attract personnel;
market opportunity, anticipated growth, and future financial
performance, including management’s financial outlook for the
future. Forward-looking statements are predictions, projections and
other statements about future events that are based on current
expectations and assumptions and, as a result, are subject to risks
and uncertainties. Many factors could cause actual future events to
differ materially from the forward-looking statements in this press
release, including but not limited to: management’s financial
outlook for the future; market adoption of the Company’s pet
service offerings and solutions; the ability of the Company to
protect its intellectual property; changes in the competitive
industries in which the Company operates; changes in laws and
regulations affecting the Company’s business; the Company’s ability
to implement its business plans, forecasts and other expectations,
and identify and realize additional partnerships and opportunities;
and the risk of downturns in the market and the technology
industry. The foregoing list of factors is not exhaustive. You
should carefully consider the foregoing factors and the other risks
and uncertainties described in the “Risk Factors” section of the
Company’s amended prospectus supplement filed with the SEC on
November 8, 2022 and other documents filed by the Company from time
to time with the Securities and Exchange Commission. These filings
identify and address other important risks and uncertainties that
could cause actual events and results to differ materially from
those contained in the forward-looking statements. Forward-looking
statements speak only as of the date they are made. Readers are
cautioned not to put undue reliance on forward-looking statements,
and the Company assumes no obligation and does not intend to update
or revise these forward-looking statements, whether as a result of
new information, future events, or otherwise. The Company does not
give any assurance that it will achieve its expectations.
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version on businesswire.com: https://www.businesswire.com/news/home/20230103005731/en/
Contacts Media: Wag!: Media@wagwalking.com
Investor Relations: Wag!: IR@wagwalking.com ICR for Wag!:
WagIR@icrinc.com
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