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Wag! Group Co. (NASDAQ:PET) announced that it struck a deal with Clicks and Traffic LLC to purchase its Dog Food Advisor assets for cash payment of $9M. The transaction is expected to close during the first quarter.
Dog Food Advisor is described as one of the most visited and trusted dog food marketplaces. The company said the acquisition demonstrates a commitment to its long-term strategic initiatives of measured expansion, opportunistic mergers and acquisitions. Of note, more than 24M pet parents visited Dog Food Advisor over the last 24 months.
"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," noted Wag! CEO Garrett Smallwood.
The Pet Food and Treats market is estimated to be $50B.