Press release: Wag!
Wag! Group Co. (Wag!), which strives to be the No. 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 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 on January 3.