Daily Herald Media

RHINELANDER — National pet-supply retail chain Petco has entered into an agreement to acquire Drs. Foster & Smith, a Rhinelander-based online pet store founded by three Northwoods veterinarians, Petco announced Wednesday.

Drs. Foster & Smith specializes in pet care and education and is known for its scope of veterinary expertise on prescription medications and products for dogs, cats, fish, birds, reptiles, horses, pond life and small animals. The company employs 500 people at its Rhinelander operation, said David Hallisey, communications director.

Hallisey said he does not expect the acquisition to affect either company's job numbers.

"It's business as usual for both of us ... for the time being," he said. "The reality for us is that we don't foresee workforce reductions."

Jim Myers, Petco CEO, said in a prepared statement that the acquisition "underscores our commitment to nurturing the complete health and well-being of animals and further allows Petco to meet the diverse and expansive needs of pet parents."

The addition of Drs. Foster & Smith's product line will complement Petco's existing capabilities in pet health to include prescription services, including prescription diets, preventive care and products created by licensed veterinarians, according to a Petco news release.

Drs. Foster & Smith was founded in 1983 as a group of four veterinary clinics. Dr. Race Foster, Dr. Rory Foster and Dr. Marty Smith's animal hospitals in northern Wisconsin were the first in the nation to offer free rabies vaccinations and free spay/neutering services.

In 2003, the company began offering a full-service pharmacy that enables customers to fill prescriptions online and by mail-order. The acquisition includes both Drs. Foster & Smith's prescription services as well as its branded products, including joint care supplements, dog and cat foods, dog beds, cat furniture, horse supplies, equine equipment and other pet care essentials, according to the Petco release.

"At our founding, our intent with Drs. Foster & Smith was to provide pet owners with veterinary advice and quality pet supplies at affordable prices," said Race Foster, co-founder. "We believe Petco shares those same values, and we look forward to building on our original mission."

The acquisition, in which Drs. Foster & Smith is represented by Falls River Group, is expected to be completed by early 2015 and is subject to customary closing conditions, including regulatory approvals. The terms of the deal will not be disclosed, Hallisey said.