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November 6, 2025

Covetrus sells Massachusetts-based equine health unit to Chewy

By Renee Cordes

Covetrus Inc., a Portland-based animal health company, has sold a Massachusetts-based equine health division to online pet products retailer Chewy Inc. (NYSE: CHWY).

Plymouth, Mass.-based SmartEquine, which rebranded from SmartPak in July 2025, employs around 250 people. The company was acquired by Henry Schein Animal Health in 2014 and later became part of Covetrus, which was formed from a 2019 merger between Henry Schein and Vets First Choice. 

The all-cash deal, subject to regulatory approvals, is expected to close in Chewy’s fourth quarter of the 2025 fiscal year, according to the Plantation, Fla.-based buyer. It expects to finance the deal through its existing balance sheet.

Terms were not disclosed, nor would Chewy disclose what it plans to do with the proceeds from the sale.

“It is our understanding that employees will transition to Chewy upon closing, and both Covetrus and Chewy are committed to transparent, timely communication and supporting all employees through the transition,” a spokesman for Covetrus told Mainebiz via email.

ben wolin
File photo
Benjamin Wolin

Covetrus, led by President and CEO Benjamin Wolin, has been owned by private equity firms Clayton, Dublier & Rice and TPG Capital since 2022. The company is staffed by more than 5,000 employees and serves more than 100,000 customers worldwide.

The disposal enables Covetrus to focus on its core business as it continues to streamline operations, enhance efficiency and strengthen veterinary practices worldwide,” the company said.

Mita Malhotra
Photo / Chewy Inc.
Mita Malhotra

Mita Malhotra, president of Chewy Health, said, “We are thrilled to welcome SmartEquine to Chewy. Together, we’ll bring even greater expertise, convenience and care as a trusted destination for the equine community.”

Chewy also reaffirmed its third-quarter fiscal year 2025 financial guidance issued in September. As of Thursday’s market close on Wall Street, Chewy shares have a market value of around $13.6 billion.

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