Expanding to eastern Canada

Pet Smart, North America's largest speciality pet retailer, plans to acquire 19 Super Pet retail stores in 17 eastern Canadian communities. The company reached an agreement in principle to acquire the assets of substantially all the retail business conducted under the Super Pet name, including the leases, inventory, property and intellectual property. The transaction is expected to close within 60 days following the execution of the definitive agreement. The acquisition is consistent with Pet Smart's strategy to add 100 net new stores system-wide in 2007, according to Pet Smart chairman and CEO Philip L. Francis. "The addition of these 19 stores to our strong Canadian portfolio expands our presence and reach in key markets and allows us to leverage our infrastructure across the region," Francis said. A Canadian presence since 1996, Pet Smart currently operates 33 retail stores in four provinces. With the exception of one store in Alberta, all the stores to be acquired are located in Ontario. Pet Smart expects to re-brand the acquired stores under its name by late summer 2007.