PetMed Express Acquisition Offer Reaches $89 Million

Cardone Ventures has proposed an $89 million acquisition of PetMed Express, offering $4.25 per share. The acquisition aims to leverage PetMed's established pet pharmacy presence and customer relationships to enhance operations and boost growth. PetMed Express has faced financial challenges, including declining revenue growth and low profitability margins. Despite this, insider activity shows confidence in the company's future prospects, and valuation metrics suggest potential undervaluation. The acquisition proposal remains non-binding, and there is no guarantee a definitive agreement will be reached.