Dive Brief:

• Pet supplies chain retailer Petco will acquire pet supplies and pet medicine e-retailer Drs. Foster & Smith in a deal for an undisclosed amount that is expected to close early next year.

• Drs. Foster & Smith will continue to operate as a separate brand, along with its affiliated sites, LiveAquaria.com and PetEducation.com. Veterinarian founders Race Foster and Marty Smith are expected to remain with the company.

• The acquisition will give Petco a hand in the lucrative veterinary prescription medicine business.

Dive Insight:

This acquisition is another bit of consolidation in the pet supply business. PetSmart Inc. earlier this fall acquired Pet360 for $130 million, which similarly gives PetSmart an e-commerce site that sells medications as well as other pet supplies.