D.A. Davidson Advises Allivet, Inc. on Its Pending Sale to Tractor Supply Company

D.A. Davidson announced today that it served as exclusive sell-side financial advisor to Allivet, Inc. (“Allivet” or the “Company”), an online pet pharmacy that sells medications, supplements, and other products for pets, on its pending sale to Tractor Supply Company (NASDAQ: TSCO) (“Tractor Supply”).

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D.A. Davidson announced today that it served as exclusive sell-side financial advisor to Allivet, Inc., an online pet pharmacy that sells medications, supplements, and other products for pets, on its pending sale to Tractor Supply Company (Graphic: Business Wire)

Allivet, a portfolio company of Peninsula Capital Partners, is a leading pet pharmacy founded in 1992, and provides quality prescription and over-the-counter pet medications. The Company also provides strategic partnership solutions to customers through retail and e-commerce channels. Allivet’s market pioneering 'PetRx-as-a-Service' platform is growing rapidly with marquee partners such as Tractor Supply, American Kennel Club (AKC), Fetch Pet Insurance, and others. Allivet is a pharmacy at the core, and its mission is to ensure better long-term health outcomes for pets by providing convenient access to pet medications, making compliance easier, and supporting pet owners with expert advice and reliable service.

For more than 85 years, Tractor Supply Company has been passionate about serving the needs of recreational farmers, ranchers, homeowners, gardeners, pet enthusiasts, and all those who enjoy living “Life Out Here”. Tractor Supply is the largest rural lifestyle retailer in the U.S., ranking 293 on the Fortune 500. Its 50,000 team members are known for delivering legendary service and helping customers pursue their passions, whether that means being closer to the land, taking care of animals or living a hands-on, DIY lifestyle. The acquisition of Allivet will complement and strengthen Tractor Supply’s portfolio offering for companion animals, equestrian, and livestock customers and unlock new growth opportunities.

“We are pleased to announce the acquisition of Allivet, a leading online pet pharmacy. This acquisition enhances the benefits we can offer to our 37 million Neighbor’s Club members with an easy and cost-effective solution to obtain medications and specialty items for their pets and livestock. Allivet is a best-in-class platform with an exceptional management team and a robust financial profile. This strategic tuck-in acquisition exemplifies our commitment to delivering value and growth as we expand our total addressable market. We look forward to welcoming the Allivet team to Tractor Supply,” said Hal Lawton, Tractor Supply’s President and CEO.

Ujjwal Dhoot, CEO of Allivet said, “We are excited for Allivet to join forces with Tractor Supply. With Tractor Supply, we can expand our reach and bring the purpose of our product offering and website to millions of customers. As part of Tractor Supply, we will accelerate our growth and innovation to continue to help pets live long healthy lives by making it easier for pet owners to care for them.”

“Allivet and its shareholders have done an excellent job creating a leading ecommerce pet pharmacy, accelerating the industry and enriching the lives of pets and their owners,” stated John Jameson, Managing Director at D.A. Davidson. “We greatly appreciate the opportunity to advise Peninsula Capital Partners on this important transaction and are excited to see what the Allivet team and Tractor Supply are able to accomplish for pet owners.”

“Today’s announced acquisition of Allivet is a watershed moment in Allivet’s long and outstanding history,” said Karl LaPeer, Senior Partner at Peninsula Capital Partners. “We couldn’t be more proud of, and excited for, the Allivet team as they begin their journey as part of America’s iconic rural lifestyle retail brand, Tractor Supply.”

D.A. Davidson served as exclusive financial advisor and Foley & Lardner LLP served as legal advisor to Allivet. Debevoise & Plimpton LLP served as legal advisor to Tractor Supply.

The transaction is subject to customary closing conditions, including receipt of applicable regulatory approvals. The all-cash transaction is expected to close in Tractor Supply’s fiscal first quarter of 2025.

D.A. Davidson’s Consumer Group has a reputation for its depth of industry knowledge, breadth of capabilities, and tenacity of its senior professionals. Offering sector-specific expertise through a full-service platform, the team provides M&A, strategic advisory, and equity capital markets capabilities across several subsectors, including ecommerce & marketplaces; active & outdoor; infant & juvenile; consumer products & services; and food & beverage. Together with its European strategic partner, MCF Corporate Finance, D.A. Davidson originates and executes transatlantic M&A transactions under the brand of D.A. Davidson MCF International.

About D.A. Davidson Companies

D.A. Davidson Companies is an employee-owned financial services firm offering a range of financial services and advice to individuals, corporations, institutions, and municipalities nationwide. Founded in 1935 with corporate headquarters in Great Falls, Montana, and regional headquarters in Denver, Los Angeles, New York, Omaha and Seattle, the company has approximately 1,600 employees and offices in 30 states.

Subsidiaries include: D.A. Davidson & Co., a full-service investment firm providing wealth management, investment banking, equity and fixed income capital markets services, and advice; Davidson Investment Advisors, a professional asset management firm; and D.A. Davidson Trust Company, a trust and wealth management company.

For more information, visit dadavidson.com.

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